19, April 2013

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)

The pair keeps falling due to the negative data on the UK labor market, all the economic indicators are below the experts' expectations.

The unemployment rate was 7.9% in February, the number of unemployed increased by 70 000, which is 2560000, which is the highest level since November 2011.

The average wage fell from 1.2% to 0.8% in February. Published data from a weak indicator of the trade balance and the low level of industrial production on an annualized basis contrary to the statements of the British government, who believes that a new round of recession can be avoided.

We have to admit that the British economy is very weak and the pair has a real chance to get to the lowest levels of March.