GBP recovered from 6-week lows against the greenback edging above the key 1.97 level. pound fell against the Euro to all-time lows of .8012. Industrial production did grow 0.3% for the month of February, greater than the forecast of 0.1%. However, traders are still adding to bets that the BOE may announce a rate cut in the meet.
TECH VIEW
Pound chart pattern indicates uptrend for the day with trading range expected between 1.9715-1.9820.the currency has its support at 1.9710 levels and holds resistance at 1.9825 levels. The DMI in neutral territory and stochastic indicates the currency to have a downward correction in near term.
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