08 September 2021, GBP/USD
GBPUSD trading plan:
British house prices rose sharply last month in a further sign of strong momentum in the market even after the partial withdrawal of tax breaks on property purchases. House prices rose by 0.7% in August, the biggest month-on-month rise for three months and following a 0.4% rise in July, Halifax said. The number of property purchases slumped in July when a year-long exemption from stamp duty for the first 500,000 pounds of a house purchase ended in England and Northern Ireland. "We believe structural factors have driven record levels of buyer activity – such as the demand for more space amid greater home working," Russell Galley, managing director of Halifax, said. This is a positive signal for the British economy.
Investment idea: buy 1.3740 and take profit 1.3840.
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