GBP/USD Resumes Bearish Trend - UPDATE
Updated
GBP/USD Resumes Bearish Trend - UPDATE
After GBP/USD was holding strong for days GBPUSD looks like can move down today after
Employment Change (3M) (Sep) 219K actual vs 373K previous
ILO Unemployment Rate (3M) (Sep) 4.3% actual vs 4% previous
Claimant Count Change (Oct) 26.7K actual vs 30.5K expected
Average Earnings Excluding Bonus (3Mo/Yr) (Sep) 4.8% vs 4.7% expected and 4.9% the previous month
So in general we have mixed data. Not good not bad but overall GBP is showing a bearish trend that can accelerate further these days.
GBPUSD is also impacted by Trump's victory and the decisions he could take related to the US Economy
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
After GBP/USD was holding strong for days GBPUSD looks like can move down today after
Employment Change (3M) (Sep) 219K actual vs 373K previous
ILO Unemployment Rate (3M) (Sep) 4.3% actual vs 4% previous
Claimant Count Change (Oct) 26.7K actual vs 30.5K expected
Average Earnings Excluding Bonus (3Mo/Yr) (Sep) 4.8% vs 4.7% expected and 4.9% the previous month
So in general we have mixed data. Not good not bad but overall GBP is showing a bearish trend that can accelerate further these days.
GBPUSD is also impacted by Trump's victory and the decisions he could take related to the US Economy
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Trade active
GBPUSD on the move 1.2770
Note
GBPUSD moved 100 pips down from the analysis I posted yesterday and it has the potential to move down more:) Near to the first target already which can be considered done.
Trade closed: target reached
Note
✅PS: The market is expecting a slight increase on the US Initial Jobless Claims to 223K from 221K the previous month.
For the PPI data the market participants are expecting the main PPI indicator to increase to 3% vs 2.8% the previous month.
This is also in line the the CPI data reported yesterday that were higher compared to the previous month 2.6% Actual vs 2.4% previous month.
If that happens the USD may show some strength again. However don't forget that the yesterday movement began late and was very tricky
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