- The pound lost momentum in recent hours, after rising after growth data.
- The dollar presents mixed results, without significant changes.
The GBP / USD climbed to 1.3768 and then reversed, erasing all gains for the day, and fell back to 1.3729, just above the day’s lows. In any case, the pair is moving sideways so far on Tuesday without showing significant changes.
In the UK data compared to expectations were mixed. Growth fell short of expectations and industrial production for February was better than expected. The economy grew again in February, expanding at a rate of 0.4%, after the 2.2% drop in January, despite the restriction measures.
In the US, attention is still on the bond market, while Wall Street continues at record highs. The inflation data for March will be released on Tuesday, which is expected to show a rise of 0.5% compared to the previous month. In addition, several Federal Reserve officials will speak (Harker, Barkin, Daly, Bostic, Mester, Rosengren and George).
From a technical point of view, GBP / USD remains in consolidation mode with a bearish bias, below the 20-day moving average that is passing through 1.3795. For several sessions it has been operating between 1.3780 and 1.3665. This last level is a key support, where the lows of March and April are located, which if it yields could trigger further falls.
Technical levels
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