British Pound is still in a decreasing trend channel. The pair fails to reach main support at 1.52 level. That's why i'm still bearish on that pair. On the fundamentals side the UK GDP growth rate shrinks in Q4 2014 to 0.5 percent from 0.7 in the previous period. Germany other big player in Europe officially enters deflation. Good entry point is at 1.507-1.504 TP1 1.48 TP2 1.47 SL 1.533