GBPUSD – Flat
GBPUSD trading plan:
Confidence among U.S. single-family homebuilders fell for the ninth straight month in September as soaring mortgage rates and persistently high prices for building materials made new housing less affordable for many first-time buyers. The National Association of Home Builders/Wells Fargo Housing Market index dropped three points to 46 this month. Discounting the plunge during the spring of 2020 when the economy was reeling from the first wave of COVID-19, this was the lowest reading since May 2014. A reading below 50 indicates that more builders view conditions as poor rather than good. The Federal Reserve’s aggressive monetary policy tightening has had a significant impact on the housing market, compared to the labor market and consumer spending, where demand remains fairly strong.
Investment idea: range 1.1365 -1.1465
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