GBP/USD Outlook (14 October 2020)

Overall, GBP/USD is ranging across. Recently, GBP/USD broke the support zone of 1.30200.

The UK employment data released yesterday indicated a mixed result for September. Unemployment rate rose higher than forecasted while the number of claimants for unemployment benefits decreased. Average earnings remained unchanged.

• Claimant Count Change (Actual: 28.1K, Forecast: 78.8K, Previous: 73.3K)
  
• Average Earnings Index 3m/y (Actual: 0.0%, Forecast: -0.6%, Previous: -1.0%)
  
• Unemployment Rate (Actual: 4.5%, Forecast: 4.3%, Previous: 4.1%)
  

GBP/USD’s next support zone is at 1.28000 and the next resistance zone is at 1.30200.
Look for short-term selling opportunities of GBP/USD.