25.02.2014 - Situation with unemployment in the UK is expected to improve

The quotes of the British pound continue to move in the downward correctional local channel. The head of Bank of England said that before the revision of monetary policy of the country, officials will pay attention not only to unemployment, but also on other indicators. Increase of rates will be made only after the Bank of England will have confidence in the stability of economic growth.

According to research, the majority of service companies will increase the staff in the next quarter, which will be positively displayed on the unemployment rate of the country. Thus, in the medium-term the opportunity for growth of the pound is big enough. In the long term remains a risk of Scotland exiting from the Unite Kingdom. Referendum on the issue will be held in September.

In case of decline the price may reach 1.6480. Growth is limited by resistance at the local maximum 1.6820.

Wish you the profits!

FXFINPRO Capital Analytical department.

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