Sterling Trade Flat Ahead of U.K.’s Claimant Count Change Data, 25+ PIP Volatility Likely; Sept 14, 2021

U.K. Claimant Count Change

Today U.K. has scheduled to release Job Results 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:

Aug 17:

July 15:

Technical View:

GBP/USD:

• The sterling trades flat on Tuesday ahead of U.K.’s Claimant Count Change Results and hovers around $1.3850 mark.
• Today pair made intraday high at $1.3850 and low at $1.3826 mark.
• A day chart is down and H1 chart with triple EMA suggests bullish trend for the time being.
• A sustained close above $1.3856 on H1 chart will check key resistances.
• Alternatively, a consistent close below $1.3820 will check further supports.

Take a look and do trade wisely!
Good Luck