According to the latest official report conducted by the Office for National Statistics, the country’s official national statistics agency, The UK’s balance sheet saw a deficit in Q2 2015, Market Leader reports. However, this time the deficit shrank. It seems like the deficit turned out to be smaller than expected by financial analysts and other experts.
In particular, the deficit shrank from 24 billion pounds seen in Q1 2015 down to 16,8 billion pounds this time. As a result, the share of the deficit on the British economy went down to the minimal level seen over the last 2 years. It should be noted that the experts had expected a deficit of 22,25 billion pounds or close to that.
However, the UK economic growth slowed down over the same reporting period. The British GDP grew by only 0,7% in Q2 2015 relative to 0,4% seen in Q1 2015. As far as the year-per-year changes are concerned, we can see an improvement by 2,4%. However, it should be noted that despite the mentioned dynamics, this happens to be the best performance seen over the last 6 years.
FOREX
As for the British Pound, it has been trading within the scope of the same downtrend relative to the U.S. Dollar. According to Masterforex-V Academy, the price has been fluctuating around 1,5182 for a while.
The closest major levels of support are located at 1,5088 and 1,4889 while the closest major levels of resistance can be found around the descending MF sloping channel as well as pivot 1,5815. Only after breaking above the resistance levels, the price may let us expect a reversal.
