The representatives of The British Chambers of Commerce (BCC) see no obstacles for the UK economy to come out of recession this year as long as the government supports the economic recovery by means of lending stimuli.
The BCC expects the UK GDP to grow by 0.3% in Q1 2012. This year’s increase is estimated at +0.6%.
The March stats showed positive changes. George Osborne has recently confirmed his intension to lower the corporate tax in order to stimulate UK businesses. Now British companies anticipate easy loans.
Forex.
According to experts, GBPUSD seems to have switched to a correctional movement against the mid-term rally. Sub-wave А(С)/С inside А/В of Weekly is probably completed. The supposition will be confirmed once the price breaks below 1.5862, which is the closest major level of support. A break below 1.5769 will suggest the forming of a bigger-scale bearish wave. A break above the 1.5916 will resume the rally. The MF pivot 1.6129 will become closest major level of resistance.
