19 August 2021, GBP/USD
GBPUSD trading plan:
U.S. homebuilding fell more than expected in July. Housing starts dropped 7.0% to a seasonally adjusted annual rate of 1.534 million units last month. Data for June was revised up to a rate of 1.650 million units from the previously reported 1.643 million units. Homebuilding fell in the Northeast, Midwest and West, but rose in the populous South. Starts increased 2.5% on a year-on-year basis in July. Single-family starts, which account for the largest share of the housing market, fell 4.5% to a rate of 1.111 million units. Starts for the multi-family segment tumbled 13.1% to a rate of 423,000 units. Homebuilding has struggled to gain traction since racing to a rate of 1.725 million units in March, which was the highest level since June 2006.
Investment idea: buy 1.3690 and take profit 1.3755.
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