According to the recent report released by Nationwide Building Society, the U.K. housing prices continued growing in June. At the time, the experts report an accelerated pace of growth. The year-over-year growth reached 5.1%. The pace of growth accelerated from 4.7% in May all the way up to 5.1% in June. The actual figures came in stronger than expected since the experts had anticipated a 4.9% increase.
It should be noted that the mentioned increase showed the fastest pace seen over the last 3 months, Market Leader reports. As for the month-over-month figures, the pace of growth stayed the same at 0.2% as opposed to May. Still, the actual figures turned out to be slightly higher than expected since the experts had anticipated zero growth at all.
FOREX
Masterforex-V Academy reports that the British Pound is still going down with a strong bearish momentum against the U.S. Dollar triggered by the result of the recent Brexit referendum in the U.K. For now, GBPUSD is forming wave 3/C of level Weekly2.
The closest levels of support are 1.3035, 1.2942, 1.2540.
On breaking above the top of the descending MF sloping channel and MF pivot 1.5018, the currency pair is going to complete the downtrend and reverse the market bias in the bulls’ favor.
