The Pound stays strong

The British pound maintains a strong position against the US dollar, amid a weak position of the US currency and positive data on unemployment and wages in the UK.

• According to published data, the average wage level taking into account premiums in September increased by 2.2%, while analysts expected growth at the level of 2.1%.
• The change in the number of applications for unemployment benefits in October was 1.1K, which is lower than the previous value at 2.6K.
• The unemployment rate remains unchanged at around 4.3%.

Technical analysis: Based on this statistics, the GBP/USD pair is testing resistance at 1.3200. In case pair consolidates above this psychology, one should expect a price increase to the level of 1.3245; 1.3275. Support levels are considered at 1.3130; 1.3085.

Fig. The GBP/USD graph, current price is 1.3191.

Alexander Sivtsov