UK Downgraded by Fitch – GBP/USD Extends Losses

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According to Bloomberg, the Fitch ratings agency has dowgraded the UK to AA+, with the outlook stable.

Fitch cites weaker economic and fiscal outlook in the UK.

GBP under pressure falling to the 1.5220-30 level. Next support level shows at 1.5200.




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About Author

Matthew Lifson is a Foreign Exchange Trader and a Market Analyst. with Cambridge Mercantile Group.