12.05.2015 - The British currency continues to rise

The price of the British pound continued to rise after has overcome a strong resistance level at 1.5500. As a result, the quotations reached the first target mark at 1.5600 and continued to rise, which is the basis for the continuation of the price increase until the next targets at 1.5800 and 1.6000. The signal for a change of the downtrend will be the break through the level of 1.5350 and the lower boundary of the rising channel. Our medium-term view remains negative, but we recommend holding long positions with the stop below 1.5350.

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