Nataly Kambur
It seems like the UK economic recovery is under threat. There was a slowdown in the country’s GDP growth in Q2 2011. The UK’s manufacturing production declined by 0.3% in August (more than expected).
The British Chambers of Commerce assume that the QE steps are not enough to avoid a recession as more radical steps are needed.
The analysts for Mizuho Corporate Bank expect GBPUSD to fall below $1.50 by the end of 2011.
FOREX.
According to the Department of Masterforex-V trading system , GBPUSD has finished forming an upswing – wave А/В (Weekly). GBPUSD has already initiated the “moment of truth” pattern. Once the local high 1,5688 is broken, the currency pair will initiate a rally - wave в(С). In this case the price may encounter resistance at 1.5710, 1.6452 and around the MF sloping channel. If the local low 1.5271 is overcome, the long-term downtrend will be resumed in the form of wave c(C ).
Nataly Kambur
