Fitch is reported to have confirmed the United Kingdom's sovereign rating by leaving it unchanged. Still, the rating agency seems determined to revise the rating instantly after the forthcoming referendum on the EU membership if the U.K. chooses the Brexit scenario.
To be more specific, Fitch Ratings left the U.K.’s rating unchanged at AA+, with a stable forecast. Apparently, the rating agency is convinced that Great Britain corresponds to this high rating for now since it can boast decent household income as well as a fairly flexible and diversified economy.
At he same time, the U.K. has been enjoying extra support coming from a pretty high level of trust in the British Pound as a major reserve currency, Masterforex-V Academy reports. The forecast is stable, which means that Fitch estimates the U.K.’s economic risks as balanced. They expect the British GDP to grow by 1,9% and 2.0% in 2017 and 2018 respectively.
FOREX
In the meantime, Masterforex-V Academy experts report that the British Pound is still going down versus the U.S. Dollar within the scope of the same downtrend. GDPUSD is still forming wave A/B of level Daily2. The currency pair is still developing wave 3/C inside of the mentioned bearish move.
The key levels of support can be found at МФ 1.4090, 1.4005, and 1.3834. A break above the top of the descending MF sloping channel and MF pivot 1.4599 is going to put an end to the existing price move.
