20.01.2015 - The price of Pound rebounded upwards
The price of the British pound could not break through the lower boundary of the medium-term descending and local descending channel and bounced from these levels. At the moment, the quotes have reached an important level of 1.5200 after it went beyond the local descending channel. In case of further growth, quotations may reach the levels 1.5275 and 1.5300. The growth in the near future is limited by the upper boundary of the channel and the level of 1.5500. Medium-term trend remains negative and the price is likely to continue to move within its framework. We maintain our negative view on the British pound and are waiting for strong growth of volatility tomorrow after the publication of data on the labor market in the country.