The Pound is under pressure

The British pound is under pressure across the entire spectrum of the market, on weak data on housing prices in the UK.

• The index of housing prices in the UK from Halifax (y/y), the actual value is 2.2%, the forecast is 3.3%.
• The index of housing prices in the UK from Halifax (m/m), the actual value is -3.1%, the forecast is -0.3%.

As a result, the property market in the UK showed a significant slowdown since October 2010. And the GBP/USD pair received a fundamental reason for the resumption of the downtrend. In cross-rates the British also remains under pressure, which will affect the main pair GBP/USD.

The GBP/USD pair is still limited by the support level of 1.3520-00, the fixing below which will open the way to 1.3450-60 and 1.3420-00.

Hanzenko Anton