15.07.2015 - The British pound may correct downwards
The price of the British pound showed steady growth yesterday and reached the level of 1.5630 above which is consolidating at the moment. Growth of price has stopped due to reaching the upper limit of the local rising channel and currently there is a possibility of reduction of quotations to the bottom of the channel and the level of 1.5550. At the same time there is a high probability of the price fixing above 1.5630, which will be the basis for the continuation of the upward price movement to the target levels at 1.5800 and 1.5900. We maintain a medium-term negative outlook, but assume continued growth in the near future.