10.05.2016 - The price of the British pound can rebound up to 1.4500

The price of the British pound corrected up after some consolidating around the level of 1.4400. In case of continued positive dynamics and overcoming resistance level at 1.4500, the closest target will be the level of 1,4670. On the other hand, fixation lower than 1.4500 and breaking through support at 1.4400, will be a strong signal to sell with targets at 1.4180 and 1.4050. Our forecast for next weeks remains negative.

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.