GBP/USD & UK Claimant Count Change: Can we see a recovering from the Pound after the data?
Today at 08:30 GMT we'll have some macro data from the United Kingdom, but the markets' focus will be on the UK Claimant Count Change, which gauges the change in the number of people that requests unemployment benefits on the country and for this release, analysts are expecting an increase from -8.6K to 1.8K. This number could have a soft impact in the GBP pairs, but we'll see how the data will work ahead of the BoE's meeting.
At our technical analysis for GBP/USD, the H4 chart is showing a very active downside pressure across the board and the pair is testing the 200 SMA dynamic support (1.3170). If the Cable manages to break it, that should open the doors to test the 1.3067 level; a likely scenario if the UK Claimant Count Change comes above the expectations. However, if the number is well below the expectations, then a breakout above the 1.3353 resistance zone could happen.