10.03.2015 - The British pound can change the trend

The price of the British pound continued to fall after a minor correction and approached the psychologically important level of 1.5000, for breaking of which will be needed a significant stimulus. In case of breaking the upper limit of the local downward channel and consolidating above 1.5150, we recommend to open long positions with the first targets at 1.5350 and 1.5550. Increase in volatility is expected tomorrow after the release of data on industrial production and publication of the forecasts on economic growth of the country. We expect the resumption of growth in the near future, but recommend to wait for a confirmation of a buy signal.

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