Sterling benefits of improved employment

Sterling inched higher amid better-than-expected employment change for the period June-August. 115K additional employees in the three months, almost double than expected. However, the unemployment rate increased in June to 3.9%. Haven Franc appreciates but the SNB sight deposits indicate the bank intervened to halt it. Pair is still moving with the downside bias and below the previous descending channel. The persistent downtrend could form a new, steeper channel. RSI runs in an oversold area. 1.1600 in sight.