Data on employment in the UK

• The average wage level (including premiums) in the UK is 2.6%, the forecast is 2.7%.
• The change in the number of applications for unemployment benefits in the UK is 31.2K, the forecast is 13.3K.

The report on employment in the UK for April was very weak. The average wage level accelerated the decline in April, but the overall annual dynamics remains ascending, which can not be said about the change in the number of applications for unemployment benefits, which in May rose to the high of April 2017, increasing pressure on the pound, despite the persistence of low unemployment 4 , 2% and employment growth.

The main pressure on the British pound was provided an hour earlier, which is probably related to the information outflow. Now the British is recovering on less negative employment data than expected. But one do not need to count on rapid growth without clear grounds.

Thus, the pair GBP/USD continues to maintain a common sideways trend, and ambiguity in terms of employment is likely to maintain a downward sentiment on the pound. Resistance levels: 1.3570 and 1.3600-20, support: 1.3500 and 1.3470-50.

Fig. GBP/USD. The current price is 1.3540.

Hanzenko Anton