28.01.2016 - We expect a strong price movement of the British pound
The price of the British pound, after a long and steady decline in the descending channel, halted the decline and is currently consolidating within the triangle. The breaking and fixing above this resistance will be a signal to buy with the targets at 1.4500 and 1.4700. The signal for sale in case of a fall, will be fixation below 1.4220, which is a local minimum. We maintain a medium-term negative outlook, but are waiting for the signal to open new positions.