Technical indicators for the British pound froze in a neutral position. The price took advantage of this and continued to grow. Optimistic data on the British economy was released yesterday and among them was the monthly construction output which increased 0.8% in volume terms in October.
The UK employment report will be released today and forecasts are mixed: the quarterly unemployment rate is seen higher at 3.7% against the former release of 3.6%, the 3-month moving average for employment may rise from -52,000 to -17,000 and wage growth is projected to rise 6.2%. Eventually, the price may rise to the first target level of 1.2410 and further rise to 1.2598.
On the four-hour chart, the price is on the ascending MACD line. The Marlin oscillator is currently in the green – area of growth. The main assumption is that the price would reach the first target at 1.2410.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
If you have an interest in any area of Forex Trading, this is where you want to be.
Global Fx Trading Group is a world leader in providing Fx services, o individual traders, including: Unmatched funding programs, on-line education, virtual trading rooms, automation tools, robot building, and personal coaching.
The company was first established by Jeff Wecker, former member of the Chicago Board of Trade, with 25 years in the industry. Jeff has a keen understanding of the needs of Forex traders and those needs are our focus.
Please join our VIP Group while is still FREE …
https://t.me/joinchat/JqsXFBKpyj3YS4bLWzT_rg
Our mission is simple: To enhance as many lives as we can through education and empowerment.
#theforexarmy #forexsigns #forexsignals #forexfamily #forexgroup #forexhelp #forexcourse #forextrade #forexdaily #forexmoney #forexentourage #forextrading #forex #forexhelptrading #forexscalping #babypips #forexfactory #forexlife #forextrader #financialfreedom
