07.05.2014 - The pound continued its growth

The price of the British pound has sharply grown amid weakening U.S. dollar, as well as positive statistics on the services PMI of Great Britain, which rose to 58.7, against the forecast of 57.9. As a result, the price of the British pound has broken through the resistance level at 1.6890 and almost reached the upper limit of the upward channel and the psychological mark of 1.7000. We maintain a long-term positive outlook, but expect price correction in the near future due to the decrease of potential for further growth of the pound. In case of correction, the price may fall to 1.6900.

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