GBP: British Pound Sterling tries to continue the growth

At the Forex currency market the British Pound Sterling rate made attempts to start growing, however the attempts have not been crowned with success.

Forex forecast: MACD indicator is in the negative area for the pair GBP/USD, however it started to go up, giving grounds for a pair buy signal. Stochastic Oscillator is not giving a clear signal today.

Forex recommendations: if the current external background is maintained and in case of breakdown at the level of 1.5860, the pair will got to 1.5900 and 1.5950.

It became known today that Halifax prices for houses declined by 0.1% m/m, (-0.7%y/y) in November. The situation in the real estate sector still remains ambiguous; the data last Wednesday showed that houses prices in Great Britain declined by 0.3% m/m (+0.4% y/y) in November, as per Nationwide against the decline by 0.4% m/m.

It became known earlier that the UK houses prices as per Hometrack, reduced by 0.8% on monthly basis (-1.1% y/y). The situation in the sector continues to be ambiguous. Earlier the LSL/Acadametrics estimations showed that houses prices in England and Wales went up by 0.3% in October, the rise is going on for the sixth consecutive month, increasing by 6.1% on annual basis; analytics in the real estate sector contradict one another: Halifax stated that houses prices in October increased by 1.8%, Nationwide insisted that the indicator fell by 0.7%.

The Bank of England meeting will be held today; interest rate decision and comments on the current economic situation will be made at the meeting. Interest rate of the Bank of England is now at the level of 0.5% per annum.

Considering the above, the Pound movement will be limited until the announcement of the Bank’s decision.

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