10.04.2014 - Pound continued growth on weakening of the dollar

The British pound has shown strong growth in the last few days and reached a strong resistance level at around 1.3820 but failed to fix above it. With further correction the price may reach 1.3750. The course of trading today will be influenced by the statement of the Bank of England on monetary policy which will include decision on interest rates and the amount of asset purchases by the central bank. We expect further correction, but keep a long-term positive outlook for the pound.

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