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.