Implementing the program of budgetary spending reduction Great Britain is going to put up for auction its aircraft carrier of an “Invisible” type, which used to be owned by the UK Navy. However, the initial price of the lot is not specified yet. Thus, the British government wants to attract extra funds and cut down the expenses. The given program is adopted to save 83B pounds for the UK budget. It is called the toughest austerity-measures program since World War II.
The British Pound currency rate keeps forming a correction at Forex. Experts from the Department of studying Masteroforex-V trading system note that GBPUSD has terminated wave a(C )/C of level H2. In order to continue the uptrend the price shouldn’t touch the defensive MF pivot at 1.5577 while retracing for wave b(C ). Otherwise H3 form 1.5483 will be completed.
Dec 2nd 2010. Today’s news (GMT):
09.30 GB - Construction PMI
13.30 US - Unemployment Claims
15.00 US - Pending Home Sales
15.30 US - Natural Gas Storage
Support and Resistance levels:
1.5778 - 261.8% + 50% + MF pivot
1.5745 - 223.6% + 161.8%
1.5714 - 188.2% + 23.6%
1.5680 - 150% + 123.6%
1.5646 - FZR
1.5636 - FZR
1.5598 – the current price
1.5577 – MF pivot + MF sloping channel
1.5545 - 61.8% + MF pivot
1.5483 - FZR
1.5434 - 188.2%
1.5380 - 200%
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Text: Sergey Panchuk, an expert of the Department of studying Masterforex-V trading system
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