UK sees buying fever for New Year trees and golden coins.

Market Leader informed

Not long ago the UK authorities were speaking about financial difficulties and austerity measures necessary to cope with them. Christmas is coming. It is the reason why New Year trees and golden coins have sharply increased in price.

According to the Royal Mint, the current demand for golden coins is the record-high, the biggest one ever seen (for over 1000 years of the Royal Mint existence). Despite the 450% growth of the price on gold since 2001 and the record-breaking price of $1430.95 per ounce (seen last Tuesday) the sales of golden coins have increased by 400%.

In the meantime the British Pound currency rate keeps staying flat at Forex. According to the Department of studying Masterforex-V trading system , GBPUSD has completed a bearish wave of level H8 and is forming a correction. This correctional wave belongs to level H2. It will be developed until the price gets over the MF pivot at 1.5561. In this case the currency pair will see the formation of wave a(C )/C H8.

Today’s news (Dec 17^th ):

15:00GMT           US - Leading Indicators

 

 

 

 

Support/Resistance levels:

1.5820 - 288.2% + 76.4% + MF pivot

1.5769 - 238.2% + 61.8% + MF pivot

1.5719 - 188.2% +50%

1.5692 - 161.8%

1.5669 - 138.2% + 38.2%

1.5628 – the current price

1.5602 - 50% + MF pivot

1.5580 – MF sloping channel

1.5561 - MF pivot

1.5529 – FZR (=Fractal-Zigzag Reversal)

1.5484 - 111.8% + D2 FZR

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