Pound is Stable: Data on housing prices

The British pound is trading in a narrow range against the US dollar after the publication of mixed data on housing prices in the UK.

• According to published data, the index of housing prices by Halifax in November rose by 0.5%, exceeding the previous value of 0.3%, on an annualized basis, the growth slowed to 3.9%, which is lower than the previous value at the level of 4, 5%.

The investors are focused on the progress of negotiations between the EU and the UK regarding Brexit. To date, all the key agreements on the financial part and the Irish border have not yet been reached, which exerts the main pressure on the pound.

Technical analysis: The GBP/USD pair is moving in a narrow range of 1.3356-1.3396. When the price leaves this range, it is possible to assess the further movement of the price. In the event of exit and consolidation above the 1.3400 mark, one should expect the instrument price to rise to 1.3460; 1.3500. In case of price reduction and consolidation below the level of 1.3350, one should expect a further decline to 1.3300; 1.3275.

Fig. GBP/USD. The current price is $ 1.3375.

Alexander Sivtsov