UK’s jobless claims change announced -58.6k, better than the July data while the July data get a huge revision to -48.9k from -7.8k. The unemployment rate fell to %4.6 from %4.7 at the same time job vacancies hit 1 million. Despite the good data, there are some concerns that after the pandemic program ends after this month, a lot of people may lose their jobs but over 1 million vacancies reduce these fears.
Jobs report supporting the hawkish BOE claims which support the GBPUSD for more upside. If the price is able to pass the local top, 1.3890, a move to 1.40 may be imminent. If it can be passed, GBPUSD may resume its trend to 1.42 after that.
The 233-day moving average will be the main support for the Pound as long as the price stays over this MA more upside can be expected. Below this support, however, things can become dangerous for the GBP bulls.
