From a fundamental viewpoint, the security is cheap with a PER of 13.25x for 2014 and 9.02x for 2015.

Technically, in daily data, even if moving averages are still in a downtrend, a positive reaction in the GBp 109 area should stop this trend and allow a technical rebound toward GBp 116. Moreover, technical indicators show a significant oversold condition which strengthens this bullish scenario.

Thanks to the technical pattern, active investors can take a long position above GBp 109. The downside potential is limited and the timing seems perfect to benefit from a technical rebound.
The goals will be fixed of GBp 116 in a first time and then of GBp 132.
However, a bearish trend would regain the upper hand if the security crosses GBp 103.