16.03.2016 - The British pound will likely continue to decline

The price of the British pound showed a strong fall after failing to overcome the important resistance level at 1.4365. As a result of decrease quotations broke through the lower boundary of the rising channel and reached the local support at 1.4080. In case of rebound, prices may return to the level of 1.4365. According to our estimates, the current drop of price will continue in the near future, until this year lows around 1.3860. Our medium-term outlook also remains negative.

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