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12 Jun 2013
UK ILO Unemployment Rate next: Impact on GBP/USD
FXstreet.com (Barcelona) - Prior surveys expect the jobless rate in the British economy to remain unchanged at 7.8% in the last three months ended in April, and the Claimant Changed to drop by 5.0K during the same period, adding to the upbeat string of data in recent periods.
The positive results would add momentum to the ongoing GBP upside, printing fresh multi-week highs in the vicinity of 1.5670 today and advancing for the third consecutive week after bottoming out around 1.5000 the figure in late May. On the upside, the next barrier arises at 1.5690 (high February 13th) followed by the key 200-day moving average at 1.5703. On the opposite side, a breakdown of 1.5521 (low June 11th) would give way to 1.5452 (10-day moving average).
“A short term static resistance levels lays around 1.5570, so on a break above it the pair may surge up towards 1.5630/40 price zone. Sustained gains above 1.5600 should keep doors open for an advance towards 1.5770 later this week”, suggested Valeria Bednarik, Currency Analyst at FXstreet.com.
The positive results would add momentum to the ongoing GBP upside, printing fresh multi-week highs in the vicinity of 1.5670 today and advancing for the third consecutive week after bottoming out around 1.5000 the figure in late May. On the upside, the next barrier arises at 1.5690 (high February 13th) followed by the key 200-day moving average at 1.5703. On the opposite side, a breakdown of 1.5521 (low June 11th) would give way to 1.5452 (10-day moving average).
“A short term static resistance levels lays around 1.5570, so on a break above it the pair may surge up towards 1.5630/40 price zone. Sustained gains above 1.5600 should keep doors open for an advance towards 1.5770 later this week”, suggested Valeria Bednarik, Currency Analyst at FXstreet.com.