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Home / Analytics / Forex analysis & forecasts / Forex Fundamental analysis / The Pound retreated. Overview for 23.09.2016
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The Pound retreated. Overview for 23.09.2016

At the end of the trading week, the GBP/USD pair is ready to update September’s lows; investors are once again worried by the Brexit.

On Friday, the British Pound is being sold in the pair with the USD. The current quote for the pair is 1.2960; the September’s low was 1.2946.

Investors once again renewed the subject of the referendum, and in order to reduce possible risks relating to the Brexit, they are selling the GBP/USD pair, although there is no information about it, which is fundamentally new or different.

In the meantime, today’s statistics showed that the sentiments in the residential real estate sector improved in September. According to Markit and Knight Frank, the Home Purchase Sentiment Index increased this month up to 56.9 points after 51.4 points in August. The current improvement is the biggest over the last seven years. However, the average data for this year is still below the trend line.

Right after the British referendum at the end of June 2016, the Brits’ sentiments relating to the housing declined significantly. At that time, the statistics showed that only 6% (out of 1,500 of the Brits) were ready to buy houses this year.

The Pound will remain under pressure until new information about the Brexit appears – eventually, there has been no meeting of the European Union relating to it yet.
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