Employment data in the UK

• Average earnings index + bonus (July),  fact  2.6%,  forecast  2.4%.
• Claimant count change  (Aug), fact 8.7K, forecast 10.0K.
• Unemployment rate (July), fact 4.0%, forecast 4.0%.

An optimistic employment report in the UK supported the pound. Particularly it worth noting the level of wages, that showed the growth of a four-month decline, and as a result, pointed to a slowdown the decline in consumer prices (CPI) in the UK.

Fig. 1. Graph of earnings level including bonuses in the UK

Dynamics of the GBP/USD pair against the background of the news will remain positive, but will be limited to overbought and resistance levels: 1.3070 and 1.3100. Also, do not forget about the oversoldness of the American dollar on the growth of optimism, which can also cause correction.

Fig. 2. GBP/USD chart. The current price is 1.3060.

Read also: “The most common mistakes made by trader. Know them and do not make”

Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

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