The UK authorities are working on a new program of economic stimulation. The anti-crisis program is estimated at 50B pounds. It is going to be financed at the expense of private investors, insurance companies and pension funds.
The program is aimed at stimulating the UK’s numerous sectors, including construction, energy and transportation sectors.
This time the government is not going to issue sovereign bonds as a method to attract funds to finance state programs. Instead, as it was mentioned above, they are going to attract private investors’ capital.
In the meantime, GBPUSD continues its downtrend stated in early November. According to the Department of Masterforex-V Trading System , the price is forming wave a long-term downswing - wave C(C ) of Daily – with 1,5805 and 1,5762 being the closest levels of support. A trend reversal can be considered only after the price breaks the MF pivot and sloping channel (as show below):
