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SpanishSterling Remains Slightly Volatile Ahead of U.K.’s Jobless Claims Results, 40+ PIP Volatility Likely in GBP Parity; July 19, 2022
U.K. Claimant Count Change & Unemployment Rate
The key indicator from the U.K. will be Jobless Claims and Unemployment Rate. It’s the first indication of the employment situation, released a month earlier than the Unemployment Rate. Although it’s generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions. Unemployment is also a major consideration for those steering the country’s monetary policy.
Let’s see how GBP has reacted during the previous data release:
June 14:
May 17:
Technical View:
GBP/USD:
- The sterling remains slightly volatile on Tuesday ahead of U.K.’s Claimant Count Change Data and hovers around $1.1950 mark.
- Today pair made intraday high at $1.1950 and low at $1.1925 mark.
- A day chart is down and H1 chart with triple EMA suggests up trend for the time being.
- A sustained close above $1.1962 on H1 chart will check key resistances.
- Alternatively, a consistent close below $1.1920 will check further supports.
| SUPPORTS | RESISTANCES |
| $1.1920 | $1.1962 |
| $1.1900 | $1.1990 |
| $1.1878 | $1.2022 |
| $1.1850 | $1.2058 |
| $1.1818 | $1.2086 |
Take a look and do trade wisely!
Good Luck
TP Global FX Research Team
With a decade of Forex Market insight, TP Global FX Research Team delivers you the Market Insight that boosts your Trading Skills