On the one hand, the pound will have to be unbearable today, since Halifax data should show that the rate of growth in property prices slowed from 2.2% to 1.9%. The pound depends on the state of the real estate market, as it is one of the main criteria determining the investment attractiveness of the UK. Nevertheless, the dollar is pretty seriously overbought, so that negative data from the US can have an extremely strong impact on the market. Moreover, today there are data on applications for unemployment benefits, the number of which may increase by 12 thousand. The only thing that can support the dollar is the data on consumer lending, whose volume should increase from 11.6 billion dollars to 13.8 billion dollars. But we must admit that the effect will be rather limited, as the data on lending goes out rather late.
The pound / dollar currency pair, forming a corrective movement, reached the band level of 1.3440 / 1.3480, where the upper limit of the range is Fibo-level 23.6. It is possible to assume that the quotation forms a wobble in these boundaries, where even by the result it would be worthwhile to consider further prospects.
The material has been provided by InstaForex Company – www.instaforex.com
On the one hand, the pound will have to be unbearable today, since Halifax data should show that the rate of growth in property prices slowed from 2.2% to 1.9%. The pound depends on the state of the real estate market, as it is one of the main criteria determining the investment attractiveness of the UK. Nevertheless, the dollar is pretty seriously overbought, so that negative data from the US can have an extremely strong impact on the market. Moreover, today there are data on applications for unemployment benefits, the number of which may increase by 12 thousand. The only thing that can support the dollar is the data on consumer lending, whose volume should increase from 11.6 billion dollars to 13.8 billion dollars. But we must admit that the effect will be rather limited, as the data on lending goes out rather late.
The pound / dollar currency pair, forming a corrective movement, reached the band level of 1.3440 / 1.3480, where the upper limit of the range is Fibo-level 23.6. It is possible to assume that the quotation forms a wobble in these boundaries, where even by the result it would be worthwhile to consider further prospects.
The material has been provided by InstaForex Company – www.instaforex.com
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