The amount of approved mortgage claims declined in August, thereby failing to come up to analysts’ expectations. According to the stats provided by the Bank of England, the total amount of approved mortgage claims reached 47 665 while experts had anticipated an increase up to 49 300.
Private lending shrank by £400 million during the same period. Nevertheless, the year-over-year increase remained the same at 0.6%. The mortgage lending volume declined by £300 million, which came as a surprise after the average monthly growth was around £700 million.
Forex.
According to , the British Pound keeps weakening against the US Dollar. The experts report that GBPUSD has finished wave А(С)/С and is now forming inside a downswing represented by wave А/В of level Daily.
A break below 1.6108 will start wave 3(С) or с(С). If this is the case, the closest levels of support will be found at 1.6095, 1.6070. The current bearish move will be completed as soon as the price overcomes the top of the MF sloping channel and consolidates above 1.6271 (as shown below).
