The pound is under pressure in the GBP / USD pair after the publication of data on business activity in the industrial sector of the UK. The index was below the critical level of 50.0, indicating the further recession in the industrial sector at the beginning of second quarter.
GBP/USD technical analysis and forecast on May 5
The pound was able to get close to the area of yearly highs, while “bulls” took a pause. The GBP / USD Quotes show a decline to the upper border of the pierced channel. The RSI is testing the trend line that limits the US dollar strengthening. The GBP / USD forecast for 05/05/2016 considers the consolidation of the pair in 1.4450 and the price growth resumption. However, “bears” may try to return to the previous quotation price channel.
