01.10.2014 - The British pound decreases within the channel

The price of the British pound continues to fall along the upper boundary of the descending channel. The reason for the price drop yesterday has become negative data on the balance of payments deficit which increased to 23.1 billion, against the expected 16.9 billion. The news neutralized the positive data on GDP growth in the second quarter by 0.9%. According to our estimates fall in price may continue to the level of 1.6050. Despite this, we expect the resumption of growth price in the medium term with the objectives of 1.6670 and 1.6900.

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