David Cameron says the UK won’t join the eurozone. London is Europe’s financial center while the new decisions made by Brussels threaten the UK’s interests and may change the financial status of London.
He assumes that the crisis solutions may split the union into several groups with different economic interests. In this case Frankfurt and Paris will strengthen their positions, thus leaving London behind.
That is why the UK government is determined to defend the nation’s interests.
According to the Department of Masterforex-V trading System, GBPUSD has completed the bullish wave A(C ) or C. A break above the 1,6152 high will start elongating the long-term wave C by creating another mid-term wave A inside the “Hound of the Baskervilles” pattern by Elder/MF or wave C(C ). A break below the 1,5963 low will initiate a long-term bearish wave A/B. The scenario will be confirmed as soon as the price breaks below 1,5889 and 1,5752.
