Sterling Trades in Rigid Boundaries Ahead of U.K.’s Claimant Count Change Data, 30+ PIP Volatility Likely in GBP Parities; Aug 16, 2022

U.K. Claimant Count Change Data

Today U.K. has scheduled to release Jobless Claims data 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:

July 19:

June 14:

Technical View:


  • The sterling trades marginally higher ahead of U.K.’s Claimant Count Change data and hovers around $1.2050 mark.
  • Today pair made intraday high at $1.2060 and low at $1.2035 mark.
  • A day chart and H1 chart with triple EMA suggest down trend for the time being.
  • A sustained close above $1.2072 on H1 chart will check key resistances.
  • Alternatively, a consistent close below $1.2038 will check further supports.

Take a look and do trade wisely!
Good Luck