GBPUSD Slides Further As UK Jobless Claims Keep Soaring
GBPUSD looked set to decline for the third straight trading days after Claimant Count Change on Wednesday implied worsening labor conditions in the U.K.
According to the Office for National Statistics, the number of people claiming unemployment-related benefits during October rose by 9,800, topping market forecasts which called for an increase of 2,000. The data for September has also been revised to a rise of 5,600 from 700.
However, the U.K.’s unemployment rate fell to its lowest level in over a decade last quarter. In the three months to September, the unemployment rate stood at 4.8%, down from 4.9% in the preceding three-month period.
Sell Stop at 1.24300, Take profit at 1.23800, Stop loss at 1.24550