GBP/USD Outlook (16 June 2021)
ByJin Dao Tai
JUN 16, 2021
Overall, GBP/USD is ranging across. Recently, GBP/USD broke below the key level of 1.41.
The UK employment data released yesterday indicated an overall positive outlook in the UK jobs market. The number of people claiming for unemployment benefits declined instead of an expected increase.
- Average Earnings Index 3m/y (Actual: 5.6%, Forecast: 4.9%, Previous: 4.3% revised from 4.0%)
- Claimant Count Change (Actual: -92.6K, Forecast: 25.0K, Previous: -55.8K revised from -15.1K)
- Unemployment Rate (Actual: 4.7%, Forecast: 4.7%, Previous: 4.8%)
The UK CPI y/y data will be released later at 1400 (GMT+8).
- CPI y/y (Forecast: 1.8%, Previous: 1.5%)
- Core CPI y/y (Forecast: 1.5%, Previous: 1.3%)
Currently, GBP/USD is moving up towards the key level of 1.41. Its next support zone is at 1.40000 and the next resistance zone is at 1.43500.
Look for short-term selling opportunities of GBP/USD up until the U.S. FOMC meeting tomorrow at 0200 (GMT+8).
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