FXstreet.com (Barcelona) - The U.K. pound fell to its lowest level since March 19, $1.4270, driven by weak data and officials comments.
U.K. Chancellor of the Exchequer Alistair Darling said that the government is likely to hold a significant stake in the domestic banking system for years to come.
In the short term technical analysis and according to Valeria Bednarik, collaborator at FXstreet.com: The pair has completed a perfect pullback to a daily descendant trend line coming from past December high of 1.5722. With indicators exhausted, the corrective movement already developed here.
Only above 1.4360 the pair could extend that movement. At the moment, further selling pressure is seen, she added.