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  1. #1
    Legendry Member milos's Avatar

    Downgraded the credit rating of the United Kingdom !!!

    The British pound is still continued to move around a two-week low against the dollar. In the absence of fundamentals from the British Islands during the day Sterling remains under pressure from credit rating downgrades as well as other credit rating agency Fitch Ratings downgraded the rating of the United Kingdom from AAA to AA + with expectations that the public debt will rise to above 100% of GDP.
    Last edited by milos; 04-22-2013 at 04:09 PM.

  2. #2
    Specialist Member RCox's Avatar
    Big topic. Should be getting more discussion.

  3. #3
    Specialist Member marvel's Avatar
    Quote Originally Posted by milos View Post
    The British pound is still continued to move around a two-week low against the dollar. In the absence of fundamentals from the British Islands during the day Sterling remains under pressure from credit rating downgrades as well as other credit rating agency Fitch Ratings downgraded the rating of the United Kingdom from AAA to AA + with expectations that the public debt will rise to above 100% of GDP.
    Surprisingly this news did not affect the GBP price a lot. The GBP/USD started at levels close to 1.5220 and ended in the 1.5290 range. I think this information is already digested in the market and will not affect the future price trend more.

  4. #4
    Legendry Member milos's Avatar
    The pound continued to move in a moderate decline against the U.S. dollar over the previous day.Good results with the real estate market in the U.S.as well as poor data in the euro zone have caused the British currency keep declining trend.
    Key levels
    1.53400 Resistance
    1.53150 Resistance
    1.52850 Resistance
    1.52490 last
    1.52200 Support
    1.51950 Support
    1.51700 Support

  5. #5
    Active Member rongold's Avatar
    Quote Originally Posted by milos View Post
    The pound continued to move in a moderate decline against the U.S. dollar over the previous day.Good results with the real estate market in the U.S.as well as poor data in the euro zone have caused the British currency keep declining trend.
    Key levels
    1.53400 Resistance
    1.53150 Resistance
    1.52850 Resistance
    1.52490 last
    1.52200 Support
    1.51950 Support
    1.51700 Support
    1.5220 is strong support, but the price is still high compared to that level at 1.5270. I don’t see any declining trend in the GBP/USD currency for now. It is in ranging conditions for the moment and will keep there till it is above 1.5200.

  6. #6
    Legendry Member milos's Avatar
    The British pound continued it's upward trend against the U.S. dollar.Monthly PMI in manufacturing has increased the growth of the British currency against the U.S. dollar also affected by the Fed's decision to keep the current program of monetary incentives. Activity of the construction industry in the UK has increased in April and almost entered the growth zone. This is the best result in the last six months of construction sector, which has so far had very poor results.

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