GBP/USD Price Forecast: Dives below 200-day SMA and 1.2800
The Pound Sterling plummets more than 0.60% on Tuesday, after labor market data was mixed, with the Unemployment Rate rising sharply, as the economy added over 220K jobs to the economy, 150K less than in the previous reading. At the time of writing, the GBP/USD trades at 1.2792, below the 1.2800 handle for the first time since mid-August 2024. Read More…
Pound Sterling declines as UK jobless rate accelerates
The Pound Sterling (GBP) weakens against its major peers on Tuesday after the employment data from the United Kingdom (UK) showed loosening labor market conditions in three months ending September. The Office for National Statistics (ONS) reported that the ILO Unemployment Rate rose to 4.3% from 4.0% in the three months ending August, higher than estimates of 4.1%. In the same period, UK employers added 219K new workers, fewer than the former release of 373K. Read More…
GBP/USD extends the decline below 1.2850 ahead of UK employment data
The GBP/USD pair extends its downside to near 1.2840 on Tuesday during the early European session. The Greenback remains firm as Trump trades continue to rally. Investors will closely monitor the UK employment data, which is due later on Tuesday. Read More…
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