GBP/USD: Sterling Steady Ahead Of The UK Unemployment Report

GBP/USD: Sterling Steady Ahead Of The UK Unemployment Report

For the 24 hours to 23:00 GMT, GBP rose 0.29% against the USD and closed at 1.6118, as risk appetite increased after German investor sentiment improved sharply in December and on cautious optimism that the US would avoid a fiscal crisis.

In the Asian session, at GMT0400, the pair is trading at 1.6112, with the GBP trading steady from yesterday’s close.

The pair is expected to find support at 1.6081, and a fall through could take it to the next support level of 1.6050. The pair is expected to find its first resistance at 1.6132, and a rise through could take it to the next resistance level of 1.6153.

The pair is likely to receive a lot of market attention today, with ILO unemployment rate and jobless claims change data to be released in the day ahead in the UK.