26.03.2014 - The British pound is under resistance
The price of the British pound increased within the local downstream channel and hit 1.6550 but failed to overcome this level. Further growth of price is also limited by the upper boundary of the local downstream channel and the lower limit of the global channel from which the price has left on the last week. For continued growth the price needs to gain a foothold above these levels. At this point, is more probable the reduction within the downward channel to 1.6400. Despite this, we maintain a long-term positive outlook for the British pound.