The Pound is under pressure. The UK GDP data

The British pound is traded under pressure amid a slowdown in UK GDP growth in the fourth quarter.

• According to published data, the UK GDP growth in the 4th quarter was 0.4%, which is lower than the previous value of 0.5%. On an annualized basis, the growth slowed to 1.4%, against the previous level of 1.5%.

Technical analysis: The pair GBP/USD keeps the downward movement in the short term. At the moment I see the nearest support levels at the marks 1.3830, 1.3780. The resistance levels are 1.3960, 1.4000.

Computer analysis: On the chart of H1 indicator forex MACD forms “Bullish divergence“, which is a signal of a possible recovery of the price of the instrument.

Fig. GBP/USD. The current price is $ 1.3885.

Alexander Sivtsov