The price of the British pound continues to move in within the side corridor 1,6770-1,6840. We expect that after the long-term of consolidation should be a strong movement in one or another direction. The catalyst of movement can become the preliminary data on GDP growth in the UK in the first quarter of 2014. On the other hand traders expect the results of the Federal Open Market Committee meeting, which will be announced on Wednesday.
Negatively on the pound may affect a referendum on Scottish independence, which will be held in September. Strong balance of payments, reducing the unemployment rate to 6.9% and GDP growth gives reason to expect growth of quotes in the long run.
Wish you the profits!
FXFINPRO Capital Analytical department.