Forex: EUR/GBP jumps after UK labor market data
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EUR/GBP
FXstreet.com (Barcelona) - The EURGBP keeps climbing the chart back to Monday's high of 0.8020. The cross is now jumping after the release of the UK labor market data.
The UK ILO unemployment rate (3m) eased from 7.9% to 7.8% in November, but there were 10.1K more claimants in October (0k consensus). Average earnings (3m/Yr) eased too.
"Rallies should find resistance at .8030/75 ahead of the 200 day ma at .8083 and while capped here will remain immediately offered", wrote Commerzbank analyst Karen Jones, expecting the EURGBP to eventually break below 0.7950 (May low) after the current rebound.
The UK ILO unemployment rate (3m) eased from 7.9% to 7.8% in November, but there were 10.1K more claimants in October (0k consensus). Average earnings (3m/Yr) eased too.
"Rallies should find resistance at .8030/75 ahead of the 200 day ma at .8083 and while capped here will remain immediately offered", wrote Commerzbank analyst Karen Jones, expecting the EURGBP to eventually break below 0.7950 (May low) after the current rebound.
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