The Sterling is continuing to trade against the Dollar in a symmetrical triangle pattern.
The US economy expanded at its strongest pace in two years in the Q3, fuelled by solid business spending.
The US home sales rose more than anticipated in November to reach the highest level in 11 years, indicating that the property market growth started to regain momentum after procrastination for the most of the year.
The US single-family housing starts and building permits increased to the ten-year highs in November, providing a hopeful sign for the real estate market that was hindered by supply constraints.
The British Pound appreciated against the US Dollar by 0.7% yesterday.
Because of sudden news that came from Brussels on Friday, the Pound lost more than 100 points against the Dollar.
In result of the interest rate hike yesterday, the cable formed new rising wedge formation.
The British Pound received only temporary support from the UK data indicating the country's inflation at the six-year high in November.
The Labour Department stated that the US job openings cooled unexpectedly in the month of October from a record-high registered previously.
The Sterling edged lower against the US Dollar on the report showing mixed Britain's manufacturing and trade figures.
The Sterling was little changed against the Greenback, following the UK housing price growth data from Halifax.
The US private sector created 190K jobs in November, down strongly from the prior month, but in line with projections, the ADP report indicated, ahead of more comprehensive the US Labour Departments figures to be issued on Friday.
The Sterling was little changed against the US Dollar on the UK Services PMI data, though the report managed to sustain the exchange rate above the 1.3400 level.
The British Pound was slightly higher against the US Dollar on the release showing stronger activity in the country's construction sector.
The Sterling depreciated initially against the Greenback, fuelled by stronger-than-anticipated Britain's manufacturing data.
US consumer inflation growth weakened in October, as the hurricane-related increase in purchases of motor vehicles started to fade.
The US economy expanded at the fastest pace in three years, as businesses invested more in equipment and inventories, offsetting slackening in inflation.
The Sterling weakened against the US Dollar on the Bank of England report showing its stress test results for this year.
Sales of new single-family homes in the US marked solid increase to reach a ten-year high due to robust demand throughout the country, providing a boost to the property market.
The Sterling was seen slightly stronger against the US Dollar, after the UK GDP growth report came in on Thursday.
The Sterling was seen slightly stronger against the US Dollar, after the UK GDP growth report came in on Thursday.
Commerce Department stated that the US durable goods orders fell sharply 1.2% in October, while its core measure marked sligtly weaker increase of 0.4% in the same period.
The National Association of Realtors reported that the US existing home sales rose more than anticipated in October, revealing 2.0% gain to a seasonally adjusted yearly rate of 5.48M units in the reported month.
The Commerce Department said that the US homebuilding rose to the highest level of the year in October, where housing starts jumped 13.7% to a seasonally adjusted yearly rate of 1.29M units, while building permits added 5.9% to a 1.30M unit rate in October.