02.03.2015 - The price of the British pound can rebound upwards after correction

The price of the Australian dollar corrected downwards and is currently consolidating near the level of 1.5400 and the lower boundary of the rising channel. The breaking of the channel and fixing the price below 1.5350 will be the signal for the opening short positions with the potential of reduction to 1.5200 and 1.5000. At the moment there is a high probability the upward price rebound to the first targets at 1.5550 and 1.5600. We recommend holding long positions with a stop below 1.5350 and growth potential in the medium term to the level of 1.5750.

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