06.06.2014 - The British pound has reached the strong resistance
The price of the British pound rose strongly and approached the inclined line of resistance. For further growth, the price needs to break through this resistance line and to gain a foothold above 1.3810. Increase in volatility is expected after the release of data on the UK trade balance (8:30 GMT) and data on the labor market in the U.S. (12:30 GMT). We anticipate price decline of the British pound within the correction to the level of 1.6770, but keep medium and long term positive outlook.