11 February 2021, GBP/USD
GBPUSD trading plan:
The boom in Britain's housing market cooled sharply in January. Near-term sales expectations were close to a pre-pandemic record low. New buyer enquires and agreed sales also fell. Other gauges of the housing market have also suggested recently that last year's boom has run its course, including the first month-on-month falls since mid-2020 in house prices as measured by mortgage lenders Nationwide and Halifax. This is a negative signal for the British currency as the real estate market is an important element of the economy of the United Kingdom. A bullish rally in the oil market will have a positive impact on the value of the British currency as the assets are correlated with each other. Crude stocks last week fell for a third straight week, dropping 6.6 million barrels to 469 million barrels, and their lowest since March, according to the U.S. Energy Information Administration.
Investment idea: range 1.3790 -1.3880.
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