Home price momentum fades in the stretch

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On June 4 bearish momentum started to fade as support level held. GBP/JPY daily chart we notice the pair opened today with a gap to the upside, sending the price to trade in a higher trading range.

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TRI Pointe Homes CEO: Momentum Shift in Housing | Mad Money | CNBC Yet a loss of momentum among business. 1.5% on residential housing – the sixth decline in a row – reflecting tougher times.

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On May 31, bearish momentum sent GBP/JPY to trade in a lower multi – day. Looking at the GBP/JPY daily chart we notice the price is heading to test the higher end of the current trading range.