29.05.2015 - We expect a fall of the British pound
The price of the British pound continued to fall after the publication of statistics on the growth of GDP in the 1st quarter of this year by 0.3% against the expected economic expansion of 0.4%. It is worth noting that the quotes has broken through and fixed below the important level of 1.5350, which is a signal for the continuation of the price fall with the closest targets at 1.5100 and 1.14800. Within the correction quotations may grow to the top of the channel and the level of 1.5500. Our medium-term outlook remains negative and we recommend holding short positions with a stop above 1.5500.