According to the latest report published by the Office for National Statistics (ONS), the construction volume in Great Britain is going down. The latest figures show that the value dropped by 0.2% in September 2015.
Masterforex-V academy experts say that the latest weakness continued the tendency started in August 2015, when the construction volume shrank by as much as 3.4% over the reporting period. At the same time, the actual figures (0,2%) failed to come even close to the value 1.5% expected by analysts.
As for year-over-year figures, the index shrank by 1.6% in September 2015 relative to September 2014. These figures underperformed by as much as 0.3% if to compare them to the estimates.
FOREX
According to Masterforex-V Academy, the British Pound keeps on trading within the scope of the same long-term downtrend against the U.S. Dollar. GPBUSD is making wave 3/C of level Weekly or higher.
At this point, the price is mowing within the scope of a junior wave – wave b(C ). On breaking below the 1.5029 low, the price is probably going to head for new lows. If that’s the case the following levels will act as level of support - 1.4938/19, 1.4887/51, 1.4740/26. Alternatively, on breaking above the top of the descending MF sloping channel and MF pivot 1.5506, the current downtrend will be completed.
