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GBP/USD

Today’s Economic Data showed that the Unemployment Rate in the United Kingdom in November remained unchanged, at 4.8%. The Average Earnings over three months including November added 2.8% y/y, which is more than the expected reading of 2.6% y/y. The Claimant Count Change in December was ‑10.1K after being 1.3K in the previous month and against expectations of 4.6K

Yesterday’s growth was caused by the speech of Theresa May, the British Prime Minister. Generally speaking, she didn’t tell much positive information. For instance, she said that the country wouldn’t try to keep access to the EU market and wanted to work out and conclude a free trade agreement instead. May also mentioned the immigration problem. According to her word, the United Kingdom was going to control the number of immigrants better in order to keep the country’s employment market under observation

[ATTACH=full]83739[/ATTACH]

GBP/USD ANALYSIS

GBP/USD Technical Analysis:
GBP/USD rebound from 1.1980 continues. there is a strong resistance at 1.2470 -1.25530 and after that in 1.2774 to limit upside at 1.31-34 price area. On the downside, below 1.2188 minor support will turn bias to the downside for retesting 1.1946 low

In the big picture There is no sign of bottoming, only break of 1.34-37 resistance will confirm medium term bottoming. Otherwise, outlook will remain bearish.

[ATTACH=full]83740[/ATTACH]

GBP/USD TECHNICAL ANALYSIS

<blockquote data-quote="daytradeprofit" data-source="post: 934730" data-attributes="member: 65439">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; GBP/USD Today’s Economic Data showed that the Unemployment Rate in the United Kingdom in November remained unchanged, at 4.8%. The Average Earnings over three months including November added 2.8% y/y, which is more than the expected reading of 2.6% y/y. The Claimant Count Change in December was ‑10.1K after being 1.3K in the previous month and against expectations of 4.6KYesterday’s growth was caused by the speech of Theresa May, the British Prime Minister. Generally speaking, she didn’t tell much positive information.&nbsp; For instance, she said that the country wouldn’t try to keep access to the EU market and wanted to work out and conclude a free trade agreement instead. May also mentioned the immigration problem. According to her word, the United Kingdom was going to control the number of immigrants better in order to keep the country’s employment market under observation[ATTACH=full]83739[/ATTACH]&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; GBP/USD ANALYSISGBP/USD Technical Analysis:&nbsp;GBP/USD rebound from 1.1980 continues. there is a strong resistance at 1.2470 -1.25530 and after that in 1.2774 to limit upside at 1.31-34 price area. On the downside, below 1.2188 minor support will turn bias to the downside for retesting 1.1946 lowIn the big picture There is no sign of bottoming, only break of 1.34-37 resistance will confirm medium term bottoming. Otherwise, outlook will remain bearish.[ATTACH=full]83740[/ATTACH]&nbsp; GBP/USD TECHNICAL ANALYSIS</blockquote>

[QUOTE="daytradeprofit, post: 934730, member: 65439"] [SIZE=5][B] GBP/USD [/B][/SIZE] Today’s Economic Data showed that the Unemployment Rate in the United Kingdom in November remained unchanged, at 4.8%. The Average Earnings over three months including November added 2.8% y/y, which is more than the expected reading of 2.6% y/y. The Claimant Count Change in December was ‑10.1K after being 1.3K in the previous month and against expectations of 4.6K Yesterday’s growth was caused by the speech of Theresa May, the British Prime Minister. Generally speaking, she didn’t tell much positive information. For instance, she said that the country wouldn’t try to keep access to the EU market and wanted to work out and conclude a free trade agreement instead. May also mentioned the immigration problem. According to her word, the United Kingdom was going to control the number of immigrants better in order to keep the country’s employment market under observation [ATTACH=full]83739[/ATTACH] [SIZE=5][B] GBP/USD ANALYSIS[/B][/SIZE] [SIZE=4][B] GBP/USD Technical Analysis:[/B][/SIZE] GBP/USD rebound from 1.1980 continues. there is a strong resistance at 1.2470 -1.25530 and after that in 1.2774 to limit upside at 1.31-34 price area. On the downside, below 1.2188 minor support will turn bias to the downside for retesting 1.1946 low In the big picture There is no sign of bottoming, only break of 1.34-37 resistance will confirm medium term bottoming. Otherwise, outlook will remain bearish. [ATTACH=full]83740[/ATTACH] [SIZE=5][B] GBP/USD TECHNICAL ANALYSIS[/B][/SIZE] [/QUOTE]

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