Trend shift in UK labour data could send GBP/USD lower
Today's UK labour market data showed a significant shift, with the unemployment rate rising to 4.4%, the highest since November 2021, and the claimant count change reaching 50.4 thousand, the highest since April 2021.
Despite this, GBPUSD is holding up relatively well, but that could all change if the May 24th low at 1.2675 is breached. If it were to happen, the price could fall to the next support level, 1.2594, the May 6th high.
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Despite this, GBPUSD is holding up relatively well, but that could all change if the May 24th low at 1.2675 is breached. If it were to happen, the price could fall to the next support level, 1.2594, the May 6th high.
Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
This content is not directed to residents of the EU or UK.
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