13.11.2014 - The price of the British pound reached a bottom of the channel

The price of the British pound fell sharply yesterday following a statement of the Bank of England on inflation in which was stated a decrease of the forecasts of GDP growth in 2015 and 2016 to 2.9% and 2.6%, respectively, which is 0.2% lower than previous forecasts. As a result, quotations have reached the lower limit of the downward channel and has broken through a local minimum near 1.5800. At the moment there is a high probability of ascending correction to the levels of 1.5880 and 1.5960. We forecast a drop in prices in the near future with the potential of decline to 1.5500.

September 25, 2014 of GBP-USD Performance

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