23.12.201511:17 Forex Analysis & Reviews: Global macro overview for 23/12/2015

Long-term review

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Global macro overview for 23/12/2015:

Brexit (common term for possible United Kingdom European Union exit next year) will be the biggest problem for the UK economy and social sentiment next year. According to the pool made by Bloomberg News 43% of economists agreed with the statement, that Brexit will be the biggest threat and 13% choose the buildup to the referendum on membership of the bloc. The remaining 39% were more timid, but agreed that Brexit might be the second-biggest risk. A potential exit would have tremendous consequences for British pound and gilts, together with greater investor outflow from UK. Prime Minister David Cameron did not yet set the referendum date, but the vote could come as soon as mid-2016 and by the end of 2017 at the latest.

The GBP/USD pair is trading slowly in the middle of the trading range below the important technical resistance at the level of 1.4895. The next support is seen at the level of 1.4806.

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