Data on employment in the UK

The report on employment in the UK was ambiguous, due to the growth of wages and the number of applications for unemployment benefits. From the report expected negative statistics, but the data on the growth of wages were perceived very positively by the market. However, expectations about the growth of the unemployed were justified – 1.7K in September, which is higher than the forecast.

As a result, the situation on the GBP/USD pair remains very ambiguous due to the uncertainty of the market. This pair continues to be near the significant level of 1.3170-80, which meets Fibo. 23.6 from the maximum of September. In addition to the significant level, the pair GBP/USD remains in the consolidation phase, which givevs additional uncertainty in the trades. 

Recommended for reading: ” 5 candlestick pattern rule.”

Hanzenko Anton