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.