GBPUSD Claimant Count Change | 18th April 2023
Fundamental Backdrop
1. UK employment rate increased by 0.2% which indicates a growing workforce and potential for increased economic output.
2. Payrolled employees increased by 31,000 in March 2023, indicating that businesses are hiring and expanding their operations.
3. Unemployment only increased by 0.1 percentage points to 3.8% in December 2022 to February 2023, indicating a relatively stable job market.
4. Economic inactivity decreased by 0.4 percentage points to 21.1% in December 2022 to February 2023, which suggests that more people are entering the workforce and contributing to the economy.
5. Growth in average total pay and regular pay is strong, with the private sector seeing particularly high growth rates in December 2022 to February 2023, indicating that workers are being well-compensated and able to contribute to the economy.
Technical Confluences
1. Near-term resistance at 1.25000
2. Next resistance at 1.26350
Idea
With a strong bullish outlook for GBP, we are looking for price to head towards the near-term resistance at 1.25000. A break above 1.25400, could bring price towards the next resistance at 1.26350
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
1. UK employment rate increased by 0.2% which indicates a growing workforce and potential for increased economic output.
2. Payrolled employees increased by 31,000 in March 2023, indicating that businesses are hiring and expanding their operations.
3. Unemployment only increased by 0.1 percentage points to 3.8% in December 2022 to February 2023, indicating a relatively stable job market.
4. Economic inactivity decreased by 0.4 percentage points to 21.1% in December 2022 to February 2023, which suggests that more people are entering the workforce and contributing to the economy.
5. Growth in average total pay and regular pay is strong, with the private sector seeing particularly high growth rates in December 2022 to February 2023, indicating that workers are being well-compensated and able to contribute to the economy.
Technical Confluences
1. Near-term resistance at 1.25000
2. Next resistance at 1.26350
Idea
With a strong bullish outlook for GBP, we are looking for price to head towards the near-term resistance at 1.25000. A break above 1.25400, could bring price towards the next resistance at 1.26350
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.