GBPUSD: Breaking the trend line!
GBPUSD is currently trading around 1.2705 and has not changed much since the start of the trading session.
Early Tuesday morning, data released by the UK Office for National Statistics (ONS) showed that the ILO Unemployment Rate remained unchanged at 4.3% in the three months to October, as expected. During the period, Employment Change increased by 173,000, while annual wage inflation, measured by Average Earnings excluding bonuses, increased to 5.2% from 4.9%.
Although the negative shift in risk sentiment has helped the US dollar gain ground in the European session, the GBP/USD pair remains flat but could fall as the bullish trendline and technical factors are broken.
Early Tuesday morning, data released by the UK Office for National Statistics (ONS) showed that the ILO Unemployment Rate remained unchanged at 4.3% in the three months to October, as expected. During the period, Employment Change increased by 173,000, while annual wage inflation, measured by Average Earnings excluding bonuses, increased to 5.2% from 4.9%.
Although the negative shift in risk sentiment has helped the US dollar gain ground in the European session, the GBP/USD pair remains flat but could fall as the bullish trendline and technical factors are broken.
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