Helena Izotova
The British Economy keeps showing sighs of recovery. The recent preliminary GDP report for Q3 2013 published by the Office for National Statistics confirms that. Still, the economic performance is still below the pre-crisis levels. At the same time, multiple economic problems in the UK along with some global factors present certain risks for the stable recovery of the British economy.
In particular, the UK GDP gained 0.8% (q/q) in Q3 2013. At the same time, experts assume that the year-over-year growth of the British GDP may well reach 3.2%. The economic growth was supported mainly by production growth. The quarterly gains are around 1.5%.
Apparently, the UK government is reassured by the positive economic performance. This is the third consecutive bullish quarter.
Forex
According to Masterforex-V Academy, the British Pound is still retracing from the recent rally against the US Dollar. The experts report that GBPUSD is forming wave b(C ) of level H4. At this point, the price is developing sub-wave 3/C
A further downswing will probably have difficulty overcoming the bottom of the MF sloping channel (as shown in the chart below). The current bearish move will be completed as soon as the price overcomes the top of another MF sloping channel and consolidates above1.6207 (as shown below).
Helena Izotova
