Today GBP/USD pair increased, right after the release of positive data, concerning the labour market situation in United Kingdom. The pound expanded its positions versus the US dollar, reaching 1.5254 during European trade session. Resistance levels were expected at 1.5331, Tuesday high value, while the pair was to be supported at 1.5099, low value on April 2nd.
Strong data was released today, regarding the ILO (International Labour Organization) Unemployment Rate in UK during Q1 2013, which decreased by 0.1% to 7.8%. Estimates were fixed at 7.9%.
Reports showed that Jobless Claims were reduced by 7300 during April, far exceeding the estimated number of -3000.
Additionally, it was reported that Average Earnings including Bonuses in UK dropped by 0.4% to 0.4% during Q1 2013, compared to Q1 2012, mismatching the forecast of 0.7%.
In the mean time, the pound was trading lower against the euro, with EUR/GBP advancing 0.33% to trade at 0.8459. GBP/JPY cross was also gaining today, up 0.57% to trade at 156.01.
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