Gtag:

Sterling Falls Ahead of U.K.’s Claimant Count Change Data, 30+ PIP Volatility Likely in GBP Parity; Dec 14, 2021

U.K. Claimant Count Change

The key event from the U.K. will be U.K.’s Claimant Count Change 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:

Nov 16:

Oct 12:

Technical View:

GBP/USD:

  • The sterling trades marginally lower ahead of U.K. Employment Change Data and hovers around $1.3200 mark.
  • Today pair made intraday high at $1.3216 and low at $1.3190 mark.
  • A day chart and H1 chart with triple EMA suggest down trend for the time being.
  • A sustained close above $1.3218 on H1 chart will check key resistances.
  • Alternatively, a consistent close below $1.3186 will check further supports.
SUPPORTS RESISTANCES
$1.3186 $1.3218
$1.3165 $1.3240
$1.3150 $1.3278
$1.3126 $1.3299
$1.3096 $1.3321

Take a look and do trade wisely!
Good Luck

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