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Sterling hit a three-year high

Sterling hit a three-year high | 01 Juni 2021

01 Juni 2021, GBP/USD

Sterling hit a three-year high

GBPUSD trading plan:

Sterling hit a three-year high. The pound was the best-performing G10 currency last month. British house prices jumped by an annual 10.9%, the most in nearly seven years, and they look set to accelerate further as people seek new homes after the pandemic, mortgage lender Nationwide said. Shifting housing preferences were "continuing to drive activity, with people reassessing their needs in the wake of the pandemic," Nationwide's chief economist Robert Gardner said. Nationwide said there was scope for annual house price growth to accelerate further in the coming months, given how weak the housing market was in early stages of the pandemic.

Investment idea: buy 1.4162 and take profit 1.4220.

David Johnson
Analyst of «FreshForex» company
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