Forex news, GBP/USD. George Osborne has called debt crisis of Eurozone the killer of British economic recovery. He has admitted that the way to recovery in the condition of high oil price and debt burden has been far from the easy one, but the crisis of national debt has become the stroke that stopped the process of recovery. Nevertheless, Osborne supposes that Great Britain bears the status of haven country despite current budget deficit and problems in bank sector.
Osborne is extremely concerned about crisis developments and mess in Eurozone – the largest export market of Great Britain. He has stated that European countries should stop integration processes and that British tax-payers would not undertake to solve the problems of European banks. He has also expressed voters’ will for the governmental structures to control British banks.
GBP/USD keeps forming correction to long-term trend, directed at declining the currency rate. According to Masterforex-V Trading System , GBP/USD currency pair is forming bearish wave А/В, with at least Daily potential. This will be proved by bullish FZR 1.5599. Closest resistance will be provided by pivot MF 1.5715, as well as Fibonacci points 1.5662/77, 1.5725, 1.5784, and 1.5804. The bearish wave will be over when pivot MF 1.5452 is broken.
