GBPUSD – Flat
GBPUSD trading plan:
Sales of new U.S. single-family homes dropped in September and data for the prior month was revised lower, more evidence that higher mortgage rates are choking the housing market. New home sales decreased 10.9% to a seasonally adjusted annual rate of 603,000 units last month, the Commerce Department said. August’s sales pace was revised down to 677,000 units from the previously reported 685,000 units. Data showed home prices logged their second straight monthly decline in August, resulting in a considerable slowdown in the annual pace of increase in house prices. Sales of previously owned homes fell for an eighth straight month in September, while homebuilding dropped, reports showed last week.
Investment idea: buy 1.1565 and take profit 1.1640.
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