Rise in British house prices sends GBP/USD higher [Video]
On Wednesday, house prices in the United Kingdom rose by their most in 15 years, after falling in July. Data released by British mortgage lender Nationwide showed that house prices increased by 2.1% from July to August, with analysts forecasting a 0.2% rise. Read more...
GBP/USD Forecast: In search of a fresh catalyst
The GBP/USD pair posted a modest intraday advance this Wednesday, holding below the 1.3800 threshold. The pair topped at 1.3798 and currently trades in the 1.3780 price zone, backed by the broad dollar’s weakness and encouraging UK data. The UK reported August Nationwide Housing Prices, which rose 11% YoY, beating expectations. Read more...
GBP/USD bulls testing bearish commitments near critcal daily resistance
At the time of writing, GBP/USD is trading at 1.3780 and between a low of 1.3731 and a high of 1.3798 having moved in on a critical level of dynamic daily resistance.
The US dollar is weak.
US data has stripped the greenback of bullish bets midweek with a terrible miss in the ADP National Employment Report that has shown private payrolls rising by 374,000 in August, well short of the 613,000 forecasts. Read more...
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