Market Leader informedMarket uncertainty over GBPUSD forced George Osborne, the Chancellor of the Exchequer of the United Kingdom, to make a range of optimistic but radical statements.
According to him, Great Britain is able to maintain the army in Afghanistan, London police and to successfully combat the global terrorism without critical spending.
Moreover, he promised to allocate more funds for schools and protracted constructions. The austerity measures will be applied to a range of social benefits. Yet the major saving will result from the reduction of bureaucracy. It won’t affect the economic growth as public institutions will undergo considerable optimization.
Against the background of such statements GBPUSD has come out of the sloping channel defending an upward wave of 2-week-long period and is currently forming a retracement of the same wave level. At this point GBPUSD has finished a downward wave of level H12 and is retracing against it. There is wave A of level H2 acting as a reference point for the bullish scenario.
Today GB offers no news.
1.6107 - 200%+FZR+sell limits
1.6080 - 188.2%
1.6053 - 176.4%+88.2%
1.6019 - 161.8%
1.5992 - 150%+76.4%
1.5965 - 138.2%
1.5932 - 123.6%+61.8%
1.5905 - 111.8%+ sell limits
1.5877 - Н2 FZR+50%
1.5876 – MF Pivot + sell limits
1.5785 - MF Pivot
1.5725 – the current price
1.5681 - MF Pivot + buy limits
1.5652 - MF Pivot + buy limits
1.5647 - Н12 FZR+23.6%+ buy limits
1.5605 - 61.8%+111.8%+ buy limits
1.5539 - 123.6%
Text: Sergey Letovaltsev , an expert of the Department of studying Masterforex-V trading system
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FZR = Fractal-Zigzag Reversal
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