Market Leader informed
The UK’s economic growth in the 3rd quarter exceeded the analytic forecasts, eventually giving twice as much as expected, mostly due to the service and construction industries.
David Cameron’s government has already started implementing the planned austerity measures, which will result in “killing” almost 500.000 jobs. The Prime Minister believes that considerable budget reduction gives an opportunity to make a new start on the way to prosperity and innovation progress, which favors the creation of new jobs.
After yesterday’s slight decline in price GBPUSD is currently trying to decide on the direction of the forthcoming movement.
Once the price goes up, comes out of the MF Sloping Channel and breaks through the MF pivot, it will indicate the formation of wave c(C )/C.
Otherwise the downtrend will continue in the form of a retracement against the previous bullish wave, or the price will start forming wave a(C )/C of the senior timeframe.
Today’s news releases (GMT):
08:30 EU - ECB President Trichet Speaks
09:00 GBR - Inflation Report Hearings
10:00 GBR - CBI Realized Sales
12:30 USA - Jobless claims
1.5954 - 123.6%
1.5932 - 61.8%
1.5808 – the current price
1.5705 - 138.2% + 76.4% + Oanda’s buy limits
1.5678 - 138.2% + 88.2% + Oanda’s buy limits
1.5647 - 161.8% + Oanda’s buy limits Text: Ivan Zhigalov , an expert of the Department of studying Masterforex-V trading system
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