20.10.2014 - The British pound can change the trend
The price of the British pound corrected to strong resistance level 1.6100. For the continued growth, the quotes need to gain a foothold above this mark. Signal indicating the change of downward trend will be fixing the price above 1.6200. Despite the gradual increase in prices in the last trading session, the mid-term trend remains negative. Increase in volatility is expected on Friday after the release of data on UK GDP for the 3rd quarter. We retain positive medium-term outlook for the British pound, but recommend to wait for the confirmation of a buy signal.