This paper presents an exploratory approach of the fetal heart rate (FHR) analysis, aiming to highlight potential limitations of the current predictive modeling attempts. To do so, a set of features that are usually encountered in FHR analysis as well as features extracted using a variant of symbolic aggregate approximation were projected onto a lower-dimensional space where patterns can easily be discerned. The results show, both in a qualitative and a quantitative manner, that there is high overlap between the classes that are formed using solely the umbilical cord pH information, irrespective of the selected dimensionality reduction method. These findings suggest that there is probably a limit to the performance expectation of the current pH-based systems and that alternative approaches should be also pursued to enhance the utility of computer-based decision support technologies.