Mountain Bike Jacket Waterproof

What cycling jacket do you use?
I’ve just had a new mountain bike and cycling to work but at the moment the weather is not to good(raining) so been looking at waterproof jackets but unsure which to buy. looking to spend around £50 and needs to be breathable and waterproof. any one have any reccommendations. thanks for your advice.
Breathable and waterproof at 50 pounds sterling is a tall order. I wear a Pearl Izumi OpTik jacket. MSRP US$90. (does that convert to your price range?)
Water proof and wind proof. Long arms for cycling posture. Form fit for less wind resistance. Hi-vis yellow for visibility.
http://www.pearlizumi.com/product.php?mode=view&pc_id=45&product_id=1150446
Other PI jackets: http://www.pearlizumi.com/shop.php?pc_id=45&mode=products
GORE BIKE WEAR FUSION Jacket

