GBP/USD analysis for May 10, 2021

Looking at the chart on the four-hour time frame, we see that the GBP/USD pair made a break above the essential level at 1.4000. We climbed to the current 1.41000 very quickly, and as the next resistance, we look at the zone around 1.42000. Moving averages are on the bullish side, also directing us towards the next above targets. Looking at the MACD indicator, we see that we have a bullish signal and that we do not see any signs of weakening for now.

House prices in the UK reached record highs in April as holidays continued to boost the real estate market, data from Lloyd’s Bank Halifax and IHS Markit showed on Monday. House prices rose 1.4 percent on a monthly basis in April, after rising 1.1 percent in March. The average assets are estimated at GBP 258,204. On an annual basis, housing price growth accelerated to 8.2 percent from 6.5 percent a month ago. That was the highest annual rate in five years. In the three months to April, house prices were 0.9 percent higher than in the previous three months.

There is growing optimism in the long-term outlook for the UK economy as the vaccination program continues at a pace. Still, we remain cautious about the medium-term outlook for the housing market, “said Galley. The Scottish National Party (SNP) won regional elections north of the border but failed. While still pushing for a new independence referendum – backed by the pro-plebiscite Greens – the lack of a big victory has resulted in some relief for the sterling. Uk Prime Minister Boris Johnson is due to make a statement announcing new measures to reopen Britain. Vaccination has reduced cases of COVID-19, and some speculate that the government could speed up the timeframe for reopening.