Here are the key factors to keep in mind today for British Pound trades:
- UK Jobless Claims Change and Claimant Count Rate: The UK Jobless Claims Change for September is predicted at 1.0K and the Claimant Count Rate is predicted at 2.2%. Forex traders can compare this to the UK Jobless Claims Change for August which were reported at -2.7K and the Claimant Count Rate which was reported at 2.3%.
- UK Employment Change, ILO Unemployment Rate and Average Weekly Earnings: The UK Employment Change for the tri-monthly period ending in August is predicted at 150K and the ILO Unemployment Rate is predicted at 4.3%. Forex traders can compare this to the UK Employment Change for July which was reported at 181K and to the ILO Unemployment Rate which was reported at 4.3%. Average Weekly Earnings for the tri-monthly period ending in August are predicted to increase by 2.1% annualized and Average Weekly Earnings Excluding Bonuses are predicted to increase by 2.1% annualized. Forex traders can compare this to Average Weekly Earnings for July which increased by 2.1% and Average Weekly Earnings Excluding Bonuses which increased by 2.1%.
Here is the key factor to keep in mind today for US Dollar trades:
- US Housing Starts and Building Permits: US Housing Starts for September are predicted to decrease by 0.5% monthly to 1,174K starts and Building Permits are predicted to decrease by 2.9% monthly to 1,235K permits. Forex traders can compare this to US Housing Starts for August which decreased by 0.8% monthly to 1,180K starts and to Building Permits which increased by 5.7% monthly to 1,300K permits.
Should price action for the GBPUSD remain inside the or breakout above the 1.3160 to 1.3200 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.3180
- Take Profit Zone: 1.3570 – 1.3620
- Stop Loss Level: 1.3020
Should price action for the GBPUSD breakdown below 1.3160 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.3120
- Take Profit Zone: 1.2970 – 1.3020
- Stop Loss Level: 1.3180
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
