20.11.2014 - The British pound may accelerate the decline in the near future

The price of the British pound was unable to break the support level at 1.5600 and corrected to the upper limit of the downward channel and continues to decline along it. In case of growth, the price can return to the descending channel. In this case, the quotes can grow up to 1.5960. We predict further price decline with the objectives of 1.5500 and 1.5300. At the moment, there is no signal for trend reversal and we maintain a negative outlook on the coming weeks.

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