Confidence in Uk housing has increased. Stamp duty cuts, coupled with increased demand for homes with gardens since the pandemic, has driven confidence in the housing market to a four-year high, according to surveyors and estate agents.

A net balance of 44% of members of the Royal Institute of Chartered Surveyors (Rics) reported an increase in prices, the strongest reading since 2016, according to its latest monthly snapshot. This compares with 13% in July and marks a dramatic turnaround from the -33% registered in May. Virtually all parts of the UK are now seeing prices increase. The only exception is London, it was reported that prices have remained more or less flat over the past two months.

The figures suggest a surge in interest in homes with gardens in the wake of the Covid-19 pandemic, with 83% of those surveyed expecting demand for such homes to go up over the next two years, and 79% predicting rising demand for properties near green space.

Ahead of a crucial round of talks between London and Brussels over the future trading relationship between the UK and the European Union, the British government made a startling admission: That it would be prepared to break the terms of an international treaty. The threat was relatively technical — over an aspect of the withdrawal agreement that allowed the UK to leave the EU at the end of January

Johnson now has roughly five weeks to agree a deal with the EU or face the economic and political repercussions of maximum trade disruption. Many senior Conservatives still believe that his plan is to create as much noise as possible in the coming weeks in the hope of a last-minute compromise.

On the other hand, the US policymakers continue to jostle over the much-awaited stimulus package even as the voting on the same is likely to take place on Thursday. Ahead of that the White House Chief of Staff Mark Meadows said that he is hopeful over more COVID-19 aid from GOP, Democrats.

GBP/USD 4 Hour Chart:

Support: 1.2905 (S1), 1.2826 (S2), 1.2767 (S3).

Resistance: 1.3043 (R1), 1.3102 (R2), 1.3181 (R3).

Amid all these updates, a pressure is laid on greenback and we expect a bullish trend for GBP/USD.