By
GCI Financial |
Technical Analysis | Oct 13, 2011 10:24AM GMT |
In the UK, on a seasonally adjusted basis, the claimant count rose 17,500 in September. The unemployment rate stood at 8.1% for the three months ended August. Additionally, the Conference Board Leading Economic Index (LEI) declined 0.5% in August, after increasing 0.3% in July.
In the Asian session, at GMT0300, the pair is trading at 1.5737, with the GBP trading 0.06% lower from the yesterday’s close.
The pair is expected to find support at 1.5591, and a fall through could take it to the next support level of 1.5446. The pair is expected to find its first resistance at 1.5840, and a rise through could take it to the next resistance level of 1.5944.
Trading trends in the pair today are expected to be determined by release of trade balance data in the UK.
Please see the attached chart below.
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