05.12.2014 - We are waiting for a strong movement of quotations of the pound
The British pound continues to consolidate within the triangle. Decrease in the amplitude of fluctuations in price gives reason to expect a strong price movement in the near future. Signal for opening long positions with the targets near 1,5960-1,6000 will be breaking through the upper boundary of the triangle and fixing the price above 1.5750. Sell signal will be fixation below 1,5600. In such case quotations may decline to 1.5500 and 1.5300. Increase in volatility is expected after the release of data on the labor market in the US (13:30 GMT). We recommend to wait for a confirmation of the signal for opening positions.