As reported by Market Leader (US)

   The UK’s highest credit rating (AAA) is under threat while the British economy is gradually falling into recession, a former MPC member David Blanchflower is sure. According to him, Great Britain’s sovereign rating will be reconsidered and downgraded within 6 months. The only way to avoid a rating cut is to stimulate the country’s economic growth thought social spending and active lending.

   In the meantime, GBPUSD is still bullish. According to the Department of Masterforex-V Academy, at this point, GBPUSD has finished forming sub-wave A(C )/C. A break above the local high will trigger wave sub-wave C(C ). In this case, the price may encounter resistance around the MF sloping channel and a cluster of Fibonacci levels within the range of 1.5933-45. A break below 1.5705 will finish the rally.     Read more...

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