05.06.2015 - We expect a further fall in the price of the British pound

The price of the British pound, after some consolidation near the upper boundary of the descending channel, has broken through the level of 1.5350 and showed a sharp rise. The strong downward impulse gives grounds to expect continuation of the downward movement of price in the near future to target levels 1.5100 and 1.5200. The increase within the correction is limited by the boundaries of the channel and the resistance level at 1.5500. We recommend to keep short positions and maintain the medium-term negative outlook.

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