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EUR/GBP: Trailing Stop Lowered To 0.8660

FX:EURGBP   Euro Fx/British Pound
Britain's unemployment rate fell in the first three months after the Brexit vote to its lowest level in 11 years but there were some signs that a slowdown in the labour market could be coming.
The unemployment rate edged down to 4.8% in the July-September period, compared with a median forecast of 4.9%. But the number of people in work rose by 49k, the slowest increase since the three months to March this year.
The BoE expects the unemployment rate to stand at 5.6% in two years' time and a survey of employers published on Monday by the Chartered Institute of Personnel and Development showed companies cutting back on hiring plans in late 2016.
The number of people claiming unemployment benefits in October rose by 9,800, the biggest rise since May, the Office for National Statistics said, adding its measure of claimants had been revised up to take into account changes to the benefit system. September's claimant count increase was revised up to 5.6k from a previous reading of 700.
The ONS said workers' total earnings including bonuses rose by an annual 2.3%, unchanged from their pace in the three months to August. Excluding bonuses, earnings rose by 2.4% year-on-year, the fastest increase in a year and in line with expectations.
The ONS said productivity growth slowed in the third quarter. Output per hour growth fell to 0.2% compared with the previous three months, slowing from growth of 0.6% in the second quarter and the weakest improvement since late 2015.
The break and sustained trading under the 0.8674 level, 38.2% retrace of the 0.7552 to 0.9365 (May-October rise), has weakened the market structure further. We are now short at 0.8690. We have lowered out trailing stop to 0.8660.

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