12.03.2015 - The British pound fell below 1.50

The price of the British pound continued to fall against the strengthening of the US dollar and weak data on the industry. After some consolidation near the level of 1.5150 and reaching the upper limit of descending channel, quotes fell sharply and broke through the psychologically important support level at 1.5000. If the price fixates below this level is expected the continuation of descending movement to 1.4800 and 1.4700. Signal of trend reversal will be fixation above 1.5150. We recommend holding short positions on the British pound.

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