In order to preserve the possibility of defending its economic interests the UK will have to stay in the EU, David Cameron says.
The British Prime Minister seems to have abandoned his skeptical opinion on the EU integration, saying that Great Britain should participate more actively in the political life of Europe.
He says the UK is not going to follow Norway, which cannot participate in creating the rules of the common market but has to observe them.
In October 2011 the House of Commons denied the idea of holding a referendum on the EU membership.
Meanwhile, the British Pound keeps losing its value versus the US Dollar. GBPUSD has already reached the targets given in the outlook for Nov 15th 2011. The Department of Masterforex-V Trading System reports that the currency pair is forming a downswing – wave C(C ) of Daily. The closest targets are the following Fibonacci levels: 1.5718, 1.5699, 1.5612/03. In order to stop the downtrend, GBPUSD needs to break above the MF pivot 1.6091 and come out of the MF sloping channel (as shown below):
