23.05.2016 - The British pound is likely to fall to 1.4400

The price of the British pound after reaching the important resistance level at 1.4670, started to correct down and declined to the level of 1.4500 and the lower boundary of the local descending channel. A break of these levels is the basis for a further decline to 1.4400 and the inclined support line. Fixation lower than these levels will be a signal to sell with targets at 1.4180 and 1.4050. Volatility will be increased in the coming weeks, but in the medium term, growth is a more likely scenario.

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.