GBPUSD – Flat
GBPUSD trading plan:
Asking prices for British homes advertised rose solidly this month and last week’s cut to property purchase tax announced by finance minister Kwasi Kwarteng could fuel demand further, property website Rightmove said. Britain’s housing market had been showing signs of cooling after a more than 20% surge in prices since the start of the pandemic, as the cost of living rises and the Bank of England steadily raises interest rates. But last week Kwarteng announced an immediate cut to the „stamp duty“ tax on home-buyers, part of a wider plan to boost economic growth that was received poorly by financial markets. Rightmove’s index of asking prices, which is not seasonally adjusted, typically falls in November and December.
Investment idea: buy 1.0780 and take profit 1.0840.
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