The British government plans to reduce the spending on a range of domestic economic sectors.Besides the much-talked-of reduction of the Ministry-of-Defense budget the austerity measures will concern scientific research programs.
Meanwhile the British Pound currency rate keeps on declining at Forex.
There is downward wave C of level H3 currently being formed, the analysts of the Department of studying Masterforex-V TS report.
The following news releases may cause the end or continuation of the given wave (GMT):
08:30 GBR - Bank of England Minutes
08:30 GBR - Public Sector Net Borrowing
14:30 USA - Crude Oil Inventories
18:00 USA - Fed’s Beige Book
Levels of support/resistance:
1,6104 – MF pivot
1,5914 - Oanda’s sell limits + 38% W1 + MF pivot
The current price is 1,5712
1,57 - 50% W1 + 150% A H3 + Oanda’s buy limits
1,5629 - 176% A H3 + Oanda’s buy limits
Text: Mikhail latypov, an expert of the Department of studying Masterforex-V trading system
Full article you can read in Market Leader
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