The pound is under pressure. The UK industrial production data

The British pound is under pressure against the US dollar, amid general strengthening of the US currency, as well as against the background of weak data on industrial production in the UK.

• In December, production in the manufacturing industry grew by 0.3%, exceeding the value of November at 0.2%. On an annualized basis, production growth slowed to 1.4%, against the previous level of 3.8%.
• Industrial production in December fell by -1.3%, against the November growth of 0.3%. On an annualized basis, the growth rate slowed to 0.0%, against the previous value of 2.6%.

Technical analysis: The pair GBP/USD during today’s trading demonstrates a fairly restrained dynamics compared with the volatility on Thursday, while maintaining a downward movement in the short term. The main support levels are 1.3875, 1.3835. The resistance levels are 1.4055, 1.4100.

Fig. GBP/USD. The current price is $ 1.3949.

Alexander Sivtsov