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Today, the pound will be dominated by US statistics, which is expected to be both multi-directional. Although generally, it is quite positive. There is a forecast increase in the number of construction projects started from 1,287,000 to 1,310,000, while the number of issued construction permits should decrease from 1,352,000 to 1,350,000. But in general, the total balance increases by 21,000. Moreover, there is a significant growth at the beginning of construction projects, and this includes the purchase of building materials, transportation costs, as well as, labor for those who build houses directly. But the issued permits for construction do not necessarily immediately turn into a construction site.
The GBP/USD currency pair returned to the value of 1.3250 after a short rollback. We can probably assume a temporary fluctuation in the range of 1.3230 / 1.3270.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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