The growth of UK economy is growing too weak. However, the UK authorities are determined to fulfill their plans aimed at cutting the budget deficit, thus raising more concerns.
If George Osborne and David Cameron fail to implement the obligations, this may worry foreign investors, thereby making further borrowing costlier for the UK.
The OBR is expected to publish its report on December 5th. The report will reflect the UK government’s achievements in the field of reducing the public debt and eliminating the structural deficit.
Forex.
According to , the British Pound keeps strengthening against the US Dollar. The experts report that GBPUSD is forming a big-scale upswing represented by wave А/В of level Weekly.
The experts warn us about the fact that the price is nearing a major level or resistance – the top of the MF sloping channel.
The current bullish move will be completed as soon as the price overcomes the bottom of the MF sloping channel and consolidates below 1.5489 (as shown below).
