EUR/GBP continues the losing streak that began on Tuesday, trading lower around 0.8650 during the European session on Friday. On Friday, better-than-expected United Kingdom’s (UK) housing data could provide minor support for the Pound Sterling (GBP).
Halifax House Prices (MoM) declined 0.4% in September compared to the market consensus of a 0.8% decline and the previous reading of a 1.8% decline in August.
However, the British Pound (GBP) is grappling with a period of underperformance, primarily influenced by the unexpected decision of the Bank of England (BoE) to pause its rate-hiking cycle in September. This departure from the trend observed since December 2021, where the BoE opted not to raise interest rates, has introduced a challenging dynamic.
" Psychology, discipline and capital management are the three factors that make victory possible "
Halifax House Prices (MoM) declined 0.4% in September compared to the market consensus of a 0.8% decline and the previous reading of a 1.8% decline in August.
However, the British Pound (GBP) is grappling with a period of underperformance, primarily influenced by the unexpected decision of the Bank of England (BoE) to pause its rate-hiking cycle in September. This departure from the trend observed since December 2021, where the BoE opted not to raise interest rates, has introduced a challenging dynamic.
" Psychology, discipline and capital management are the three factors that make victory possible "
Note
Compounding the situation, the central bank revised its growth forecast for the July-September period from 0.4% to a mere 0.1%. This downward adjustment provides little indication of any inclination to pursue further rate increases.Trade active
Trade active
Note
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.