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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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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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