English
Arabic
Chinese (Simplified)
Dutch
French
German
Italian
Portuguese
Russian
SpanishSterling Trades in Narrow Range ahead of U.K.’s Claimant Count Change Results, 25+ PIP Volatility Likely in GBP Parity; April 12, 2022
U.K. Claimant Count Change & Unemployment Rate
Today U.K. has scheduled to release Jobless Claims data and unemployment rate at 0600 GMT/1130 IST. 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:
March 15:
Feb 15:
Technical View:
GBP/USD:
- The Sterling trades slightly lower on Tuesday ahead of Jobless Claims data and hovers around $1.3000 mark.
- Today pair made intraday high at $1.3037 and low at $1.3003 mark.
- A day chart and H1 chart with triple EMA suggest down trend for the time being.
- A sustained close above $1.3030 on H1 chart will check key resistances.
- Alternatively, a consistent close below $1.3001 will check further supports. U.K.’s economic Calendar will remain empty for the day.
|
Supports
|
Resistances
|
|
$1.3001
|
$1.3030
|
|
$1.2978
|
$1.3055
|
|
$1.2944
|
$1.3076
|
|
$1.2910
|
$1.3099
|
|
$1.2881
|
$1.3126
|
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