22.09.2014 - The British pound resumed growth after the correction

The price of the British pound after strong growth of volatility associated with a referendum on Scottish independence has stabilized above the lower boundary of the local rising channel. In near future the price will likely continue to move upwards to the level of 1.6450, 1.6530 and the upper boundary of the rising channel. This week, we will probably see a decrease of volatility and price consolidation within the local rising channel. The resumption of the downward movement in the near future is unlikely and we recommend holding long positions with a stop below 1.6190. The medium-term outlook remains positive.

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