Global macro overview for 01/12/2015:
The Bank of England has revealed the results of the stress testing in the UK banking system this morning. Stress tests examine the potential impact of a hypothetical adverse scenario in regard to the health of the banking system and individual institutions within it. All 7 major UK banks pass 2015 stress tests (Barclays, HSBC, Lloyds Banking Group, Nationwide Building Society, Santander UK, the Royal Bank of Scotland and Standard Chartered) and according to BOE Governor Mark Carney, the banks are more resilient than before financial crisis.
After the positive reaction to Carney's remarks, the GBP/USD pair returned to its trading range and is currently trading just above the intraday support at the level of 1.5053.