Pound is in uncertainty

The British pound is in uncertain situation amid mixed data on the UK.

• The average wage level, taking into account the premiums in August, was 2.2%, which corresponds to the revised July value, while analysts expected the value to be at the level of 2.1%.
• The change in the number of applications for unemployment benefits in September was 1.7K, against the value of August at the level of -0.2K.
• The unemployment rate remains at 4.3%.

Ambiguous data on the labor market can put the leadership of the Bank of England in a difficult situation in the decision to tighten monetary policy. For more information, see https://esterholdings.com/en/2017/10/17/funt-teryaet-pozitsii-2/

Technical analysis: At the moment, the nearest support for the GBP/USD pair is the area of 1,3165-1,3155, in the event that the instrument price is fixed below this range, the quotation may further decrease to the level of 1.3220.

Fig. Current price GBP/USD – 1.3180

Alexander Sivtsov