Sterling Down Slightly; OECD's Report Halts Rally

[Forex7]

At today’s trading (28/11, 03.10 GMT) the Pound sterling currency falls against US Dollar. The Pound sterling opened at 1.6020 in early trading (00:00 GMT), and slipped -3 pips or about -0.02 % at 1.6017.

 

The unfavorable expectation against Pound sterling is seems to be rising , before Nationwide Building Society reports a latest data of the change in the selling price of homes with mortgages backed by Nationwide, in November.

 

Nationwide HPI m/m might decrease slows to 0.2% from previous period of 0.6% growth. The market pulls the currency to moves lower as an early response.

 

Vibiz Consulting Analyst said normal range of GBP/USD is estimated to have the support level at 1.5993 and resistance level at 1.6052.

 

Meanwhile the Paris-based thinktank, OECD, said it expected UK national output to shrink by - 0.1% this year, a less gloomy prediction than the -0.7% contraction back in August.

 

 

 

 

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