20.06.2014 - Pound has broken through the important resistance
The price of the British pound, after a long consolidation, has broken through the strong resistance level at 1.70 and continued to grow. The reason for the growth was the weakening of the U.S. dollar, as well as strong data on the industry of the country, where the balance of manufacturing orders rose to 11, with an expected growth to 3. In the case of correction, the price may be reduced to 1.70. We expect continued growth with the objectives at 1.71 and 1.72, and keep positive medium-term forecast.