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• Rouble is losing positions again in pairing with USD and EUR [11/10/2011]
• NZD: New Zealand Dollar is descending [11/10/2011]
• AUD: sales of Australian Dollar do not subside [11/10/2011]
• JPY: Japanese Yen remains in the narrow trade range [11/10/2011]

GBP: the British Pound Sterling actively sold following the Euro

On the Forex market the British Pound Sterling is traded downward on Friday, correlating with the pair EUR/USD, which has been declining for the fourth consecutive day.

Forex forcast: MACD indicator is in the negative area for the pair GBP/USD, however it continues to regain, confirming a previous buy signal for the pair. Stochastic oscillator is giving a similar signal today, being in the neutral zone.

Forex recommendations: out of the market

Feasible event scenario at Forex: in case of breakdown at the level of 1.5410 thepair will go to 1.5390 ? 1.5370. If there is no breakdown, the pair will be consolidating in the range of current values.

The day before George Osborne, a monetary politician, stated that the country undertook every measure that would stimulate economic growth, and the March budget revision would also provide for some new measures to stimulate it.

Moreover, Mr Osborne stressed that the work on the reforms in the country must be continued since the budget reduction plan could increase the confidence in the economy.

The earlier statistics on Great Britain was quite a good support for the “cable” (level of money supply in Great Britain increased by 3,5% in quarter calculation in October; number of approved mortgage requests rose slightly, although level of net mortgage lending declined to 788 million pounds sterling in November against the level of 1.172 billion pounds in October).

As it became known on Thursday PMI index in the service sector of Great Britain fell to the level of 49.7 in December against the forecast of 52.9 and the previous value of 53.0.

CIPD, the UK Institute of Personnel Development believes that the situation in the employment sector can be complicated for UK economy in 2011, because unemployment rate can rise to 9% and employment can reduce to 200 thousand jobs. According to CIPD estimates reduction in the public sector will amount to about 120 thousand jobs and about 80 thousand in the private sector. We would remind that British Government plans to reduce the number of staff in public sector by 330 thousand by 2015.

In general, at least first half of the year 2011 will be complicated for the British economy.

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