GBP/USD Outlook (16 February 2022)

Overall, GBP/USD is ranging across. Recently, GBP/USD bounced up from the key level of 1.35.

The UK employment data released yesterday indicated continued decline in the number of people claiming for unemployment benefits in February. Meanwhile, average earnings rose while unemployment rate remained unchanged.

• Average Earnings Index 3m/y (Actual: 4.3%, Forecast: 3.8%, Previous: 4.2%)
  
• Claimant Count Change (Actual: -31.9K, Forecast: -36.2K, Previous: -43.3K)
  
• Unemployment Rate (Actual: 4.1%Forecast: 4.1%, Previous: 4.1%)
  

The UK CPI y/y data (Forecast: 5.4%, Previous: 5.4%) will be released later at 1500 (GMT+8).

GBP/USD’s next support zone is at 1.33800 and the next resistance zone is at 1.36000.
Look for short-term buying opportunities of GBP/USD.