U.K Claimant Count Change rises to -12.6 K, Buy GBPUSD on dips!

forex inflation2 min
forex inflation2 min

Claimant Count Change measures the change in the number of unemployed people in the U.K. during the reported month. A rising trend indicates weakness in the labor market, which has a trickle-down effect on consumer spending and economic growth.

The UK Claimant Count Change rose from -20.7 to -12.6K in the previous month, analysts had expected UK inflation data to make a small rise towards the -20.0K last month.

This development should add some pressure on the pair but….since GBPUSD is very bullish, UK inflation data could be taken as an opportunity to buy the pair on dips …

Immediate support comes at the 1.5639 levels ahead of the 1.5612 levels(main), Immediate resistance comes at the 1.5709 levels ahead of the 1.5790 levels(main), sustained breakout above the 1.5709 levels will turn 1.5709 from resistance to support…

Further Reading

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