The fate of the pound today will depend on the U.S/ statistics, which is expected to be not so positive. The total number of applications for unemployment benefits can grow by 28,000. Moreover, the number of initial applications can be reduced by 12,000, then the number of repeated applications can increase by 40,000. This indicates the growth of long-term unemployment, which is not so good. Nevertheless, the market reaction will not be so serious, since this news is not out of the general logic on the latest data of the labor market.
The GBP/USD dollar currency pair, showing an active ascendant interest, continued its upward movement, issuing more than 220 pips from the support level of 1.4000. Now we see how the quotation comes close to the predicted value of 1.4240 and gradually reducing the bullish interest. It is likely for the overbought situation to further happen, which could translate into a stagnation near the level of 1.4240, where it is worth keeping track of and perhaps, the growing short positions.
