04.04.2016 - The rebound of price of the British pound is likely to be short-lived

The price of the British pound rebounded from the support level at 1.4180 and continues to grow. The next upside target levels in case of continuation of the current upward momentum will be 1.4400 and 1.4500, and its overcoming is unlikely. In case of fixation below 1.4180, we expect further price reduction to 1.3840 and 1.3600. On the other hand, the medium-term outlook remains negative and according to our estimates, the downward dynamics will resume in the near future.

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