26.01.2016 - The British pound is likely to fall further to 1.40

The price of the British pound keeps moving inside the descending channel after recently reached its upper limit and the resistance level at 1,4350. In case of breaking of this level and fixing above it, we expect continued growth to 1.4500 and 1.4800. A more likely scenario according to our forecasts is a continued negative dynamics of price with immediate objectives at 1.4080 and 1.4000. Our medium-term outlook also remains negative.

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.