David Cameron gains further support

Market Leader informed

Last Thursday there was the EU summit held in Brussels, where David Cameron prevented the EU budget costs from growing 5.9%.
His decision was supported by France and Germany. According to Cameron, it is unacceptable to increase the expenses of the EU budget while the UK government has decided to implement the austerity measures.
Against such a background GBPUSD is showing steady growth.

Experts from the Department of studying Masterforex-V trading system report that at the moment the price of GBPUSD is moving inside wave c (C ) of level H4, which will provide further support for the uptrend until the defensive MF pivot and MF Sloping Channel are broken through.

Today’s news (GMT):

09:30 GBR - PMI Manufacturing
12:30 USA - Personal Spending, Personal Income
14:00 USA - ISM Manufacturing, Construction Spending
Support/Resistance levels:

1.6099 - 123.6% + 150% + sell limits
1.6105 – FZR*
1.6126- 138.2% + 161.8%
1.6168 - 161.8% + 176.4% + 211.8%
1.6195 - 176.4% + 188.2% + 223.6%
1.6058 – the current price
1.5992 – MF pivot + MF SC* + buy limits
1.5939 – buy limits
1.5875 - MF pivot
1.5824 - MF SC + – buy limits

Text: Sergey Panchuk, an expert of the Department of studying Masterforex-V trading system

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FZR = Fractal-Zigzag Reversal
MF SC = Sloping Channel by Masterforex-V

 

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