GBPUSD - 50 & 200 MA Cross into Uptrend

GBPUSD - 50 & 200 MA Cross into Uptrend

High Impact News Releases Upcoming for GBP:

Unemployment Rate - Tuesday, 14th December, 07:00
The unemployment rate in the UK is described as the number of people actively seeking work as a percentage of the population, all of whom are considered to be labor force participants. The previous release was 4.3 and the consensus for the upcoming release is 4.2 with 5.1 being the ATH (All-Time High) since 2018.

Claimant Count Change - Tuesday, 14th December, 07:00
In the United Kingdom, the change in the number of people seeking unemployment benefits is measured by the claimant count. The previous release was -14.9 and the consensus for the upcoming release is -20.

Employment Change - Tuesday, 14th December, 07:00
The three-month moving average of the number of individuals in employment aged 16 and over compared to the same period the previous year is referred to as employment change in the united kingdom. The previous release was 247 and the consensus for the upcoming release is 228 with 247 being the ATH (All-Time High) since 2018.

On the 1H timeframe, GBPUSD after a long downtrend has crossed both the 50 & 200-day moving averages whilst we await a close above the 200 day MA we have also broken the downtrend resistance line into a possible new uptrend.

After the recent Omiricon virus being displayed across the news with further restrictions put into place, GBP has taken a hit over these last few weeks however with it being displayed that the virus is only a mild version and Christmas being in the main focus we are seeing some recovery by the GBP.