20.03.2014 - Parade of supports on GBP/USD
On the background of statements by Fed chief Janet Yellen on the reduction of the quantitative easing program to $ 55 billion per month, the price of the British pound has fallen significantly and reached a series of supports, including the horizontal level of 1.65, the lower limit of the rising channel and the lower boundary of the local downstream channel. We expect price correction up to the level of 1,6580-1,6600. For the resumption of growth within the long-term channel needs to fix the price above 1.6650. We reserve the medium and long term positive outlook for the pound.