20.05.2015 - The British pound dropped to the lower boundary of the rising channel

The price of the British pound after strong decline reached the bottom of the channel and the support level at 1.5500. Quotes were unable overcome these levels of support and currently grow along the lower boundary of the rising channel. According to our forecasts, growth may continue to 1.5800. The breaking of the bottom of the channel and fixing below 1.5450 will be the basis for opening short positions with objectives at 1.5100 and 1.4800. We keep a negative medium-term outlook on the price of the British pound.

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