Sterling Trades in Narrow Range Ahead of U.K.’s Jobless Claims Data, 25+ PIP Volatility Likely in GBP Parity; Feb 15, 2022

U.K. Claimant Count Change

Today U.K. has scheduled to release Jobless Claims and unemployment rate data at 0700 GMT/1230 IST. It’s the first indication of the employment situation, released a month earlier than the Unemployment Rate. Source changed series calculation formula as of Jun 2015. 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:

Jan 18:

Dec 14:

Technical View:


  • The sterling exhibits range bound movement ahead of U.K.’s Claimant Count Change results and consolidates around $1.3550 mark.
  • Today pair made intraday high at $1.3546 and low at $1.3518 mark.
  • A day chart is up and H1 chart with triple EMA suggests down trend for the time being.
  • A sustained close above $1.3541 on H1 chart will check key resistances.
  • Alternatively, a consistent close below $1.3498 will check further supports.
$1.3520 $1.3552
$1.3498 $1.3570
$1.3465 $1.3586
$1.3450 $1.3615
$1.3412 $1.3637

Take a look and do trade wisely!
Good Luck