Standard & Poor's confirmed the UK’s credit rating. The long-term rating is AAA, the short-term one is А-1+, with positive forecasts.
The confirmation became possible due to the highly-developed and diversified UK economy, stable labor market and efficient financial policies. The substantial reserves accumulated by British companies and households contributed to the confirmation as well. S&P analysts expect the UK economy to boost by 1.6% this year.
The positive forecasts resulted from the expectations of further budget deficit reduction (down to 4%) and positive GDP dynamics. At this point, the country’s sovereign debt is around 90% of the GDP.
Forex.
According to , GBPUSD keeps retracing against the major uptrend. A break below 1.5818 (the local low) will resume the forming of sub-wave А(С)/С, thus cancelling the В(С) scenario and indicating the forming of wave А/В of a bigger-scale wave level. The 1.5804 low and The MF pivot 1.5769 will turn into the closest major levels of support. The downswing will be completed as soon as the price breaks above the MF pivot 1.5965.
