The British are losing their savings

Market Leader informed

The UK’s former Prime Minister Gordon Brown has published a book dedicated to the financial crisis. According to him, each Briton lost about £14.000. The total sum is lost is over £800B.

The British citizens were losing their savings mostly due to the price decline in the UK housing market, resulting in investment profit reduction. During the crisis the national economy declined almost by 5% while the sovereign debt increased up to 70% of the GDP. According to the analytic research for 2010, the UK citizens are going to lose £250B more.

In the meantime, GBPUSD is retracing from the achieved highs. According to the Department of studying Masterforex-V trading system , by now GBPUSD has terminated wave C from 1.5510. The newly-formed wave needs a “moment of truth” to define the direction of the forthcoming movement.

Dec 8^th. News (GMT):

11.00 GB - CBI

12.00 US - МВА Index                       

15.30 US - DOE U.S. Crude Oil Inventories

 

 

 

Support/Resistance level:

1.5894 - 123.6% + 223.6%

1.5858 - 111.8%

1.5821 -FZR

1.5760 – MF pivot

1.5710 – the current price

1.5706 - 150% + 38.2% + MF pivot

1.5669 - 200% + 50% + MF pivot

1.5632 - 250% + 61.8%

1.5578 - 323.8% + 76.4%

 

 

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