The British Pound Sterling rate hovers near the closing levels at the Forex currency market on Wednesday, although steady external background can make upward correction possible for the Pound.

 Forex forecast: MACD indicator is in the negative area for the pair GBP/USD; however it goes up, giving grounds for a pair buy signal. Stochastic Oscillator is giving a similar signal in the middle of the week, being in the neutral zone.

 Forex recommendations: if the current external background is preserved, buyers’ targets today will become the levels of 1.5650 ? 1.5680.

 As it became known today real estate prices in the UK reduced by 0.3% m/m (+0.4% y/y) in November as per Nationwide estimations against the forecast of reduction by 0.4% m/m.

 It became known yesterday 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%.

 Earlier Nationwide economists stressed that if the trend which started in the early summer will continue in November and December; there is a chance that the prices will drop by 1% by the end of the year. Rightmove clarified that they noticed the oddity in indicators in October already; however they assumed that traders deliberately start overpricing in order to keep back property until better time.

 Therefore, real estate sector in Great Britain is still in a tricky situation.

 Data on the UK consumer confidence GFK released yesterday showed that the index fell to the lows of four months in November to the level of -21 against the previous level of -19. While economists did not expect changes in the index, which seems to be impacted by the reduction of the British budget expenditures that is being implemented by the local monetary authorities currently.