The UK economy is showing signs of recovery. Dome experts at the Bank of England are sure that the economy will start growing very soon. However, they warn about higher inflation.
The UK economic growth is hindered by the eurozone crisis. Moreover, there are some internal problems connected with fiscal policies. Only quantitative easing is capable of solving them.
Rabobank experts point out the weakness of the British Pound. They say that the recent strengthening up to 1.6060 was caused by the temporary weakness of the US Dollar. According to CMC Markets, technically, GBPUSD should end the week above the 200-week MA (1.5996).
According to the Department Of Masterforex-V Trading System , GBPUSD keeps rallying. The price is forming sub-wave А(С)/С inside the bullish wave А(С)/С of Daily2. The closest major level of resistance is 1.6129. The rally will be completed as soon as the price breaks below the bottom of the MF sloping channel and pivot 1.5842.
