05.08.2014 - The British pound reached the border of the channel

The price of the British pound after reaching the strong support level of 1.6810, corrected upwards and reached the upper limit of the downward channel. In case of continued growth, the signal for opening long positions will be the price fixing outside of the channel and above the resistance at 1.6900. It is worth noting that at the moment there is a big possibility of renewed downward movement with the target at 1.6810. In this case, the stop should be set above 1.6900. The medium-term outlook remains positive.

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