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GBPUSD: consolidation after Rightmove's publication of the UK house price index

Sell on a level breakthrough of 1.5526 with 1.5465 target. Stop loss = 1.5576.

Reason for the trading strategy

In June, Rightmove house price index in the UK rose by 4.5% (m/m), with the previous value of 2.5% (m/m). The data reflect growth in the British households' real income and the rise in inflation expectations in the UK. Despite the positive news, strengthening of the US dollar against the euro will put pressure on the pound.



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