21.04.2016 - The British pound is trying to resume growth

The price of the British pound corrected down after failed to overcome the resistance level at 1.4400. At the moment, the price is trying to gain a foothold above the boundary of the triangle, which quotes have left earlier. Gaining a foothold above 1.4400 will become a reason for the further price growth with objectives at 1.4500 and 1.4600. According to our estimates, the upside potential is low and decline can be resumed in the near future with the objectives at 1.4180 and 1.4050. Our forecast for the coming months also remains negative with the objectives at 1.3840 and 1.3600.

RISK WARNING: Trading of complex financial products, such as Stocks, Futures, Foreign Exchange ("Forex"), Contracts for Difference ("CFDs"), Indices, Options, or other financial derivatives, on "margin" carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading these markets, and seek advice from an independent financial advisor if you have any questions or doubts. Please carefully read our full "Risk Disclosure" and "Risk Disclosures for Financial Instruments & Investment Services". FXFINPRO Capital is the trading name of PFX Financial Professionals Limited, a limited liability company formed under the laws of Cyprus, registered with the Registrar of Companies in Nicosia, Cyprus, under nr. HE 237840 and regulated by the Cyprus Securities and Exchange Commission with license number 193/13.