PRF: British Pound Strengthens Amid Lower Housing Prices
The UK housing market is showing weakness. The average price was around ₤234000 in September. Over the previous 2 months, the market declined by 1.7% and 2.4% correspondingly.
The UK housing market is known for tough competitions. Over the last few years, the situation hasn’t changed.
As compared to September 2011, the prices have increased by 0.7%. The purchasing activity remains low.
Forex.
According to Masterforex-V Academy, the British Pound keeps strengthening against the US Dollar. The experts report that GBPUSD is forming a big-scale upswing represented by wave 3/C of level Weekly. The currency pair is nearing a strong level of resistance around 1.6300.
The current bullish move will be completed as soon as the price overcomes the bottom of the MF sloping channel and consolidates below 1.5576 (as shown below).
