26.08.2016 - We expect the resumption of the fall of the British pound

The price of the British pound continues to consolidate near the upper boundary of the descending channel and the level of 1.3225. Fixation higher than this level will be the basis for continuation of growth of quotations to 1.3500 and 1.3600. According to our estimates, the more likely scenario will be breaking through the local minimum at 1.1375, which will be a signal to sell with the nearest targets at 1.3000 and 1.2800. In this case, the stop should be set above 1.3250. Our medium-term outlook 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.