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04.03.2014 - British failed to break through support

After a decline against the strengthening of the U.S. dollar, the British pound has reached the strong support at 1.6640, but failed to break through it. At the same time increased the probability of upward rebound to the levels of 1.6700 and 1.6750. We expect further growth of quotations of the British pound inside the rising channel. The target in this case is the upper limit of the channel and a maximum located near 1.6820. Central news this week will be the statement of the Bank of England, which will take place on Thursday (12:00 GMT).

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RISK WARNING: Trading of complex financial products, such as Stocks, Futures, Foreign Exchange ("Forex"), Contracts for Difference ("CFDs"), Indices, Options, or other financial derivatives, on "margin" carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading these markets, and seek advice from an independent financial advisor if you have any questions or doubts. Please carefully read our full "Risk Disclosure" and "Risk Disclosures for Financial Instruments & Investment Services". FXFINPRO Capital is the trading name of PFX Financial Professionals Limited, a limited liability company formed under the laws of Cyprus, registered with the Registrar of Companies in Nicosia, Cyprus, under nr. HE 237840 and regulated by the Cyprus Securities and Exchange Commission with license number 193/13.
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The CIF license of PFX Financial Professionals Ltd has been suspended by the Cyprus Securities and Exchange Commission until the 24th of December 2016. Please click here
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