The British currency came under pressure after the publication of the report on industrial production and production in the manufacturing industry of Great Britain.
The report showed an improvement compared to February, but the publication was below market expectations. However, the decline in GBP/USD pair has been limited, the sterling is stable before the meeting of the Bank of England, which will take place on Thursday.
GBP/USD technical analysis and forecast on May 12
The pound has stabilized above the upper boundary of the descending channel punched. The RSI on the four-hour chart shows the growth of the level of support after the test, which is a signal in favor of the resumption of an upward trend. Forecast GBP/USD on 12.05.2016 provides movement to 1.4550.
