30.07.2015 - The British pound may begin to decline in the near future.
The price of the British pound is growing within the local upward channel after the rebound from the support level at 1.5460. Further growth of quotations in the near future is limited by the resistance levels at 1,5650-1,5670. It is worth noting that in case of breaking of a lower boundary of the descending channel and a local minimum around 1.5590, we recommend to open short positions with short-term potential of reduction to the angled line of support and the levels of 1.5460 and 1.5350. Our medium-term outlook remains negative. We maintain a pessimistic outlook for the British Pound and look forward for the signal for opening short positions.