Post #15832

GBP/USD Slides Into Key Support on Softer UK Jobs GBP/USD is down ~0.80% this morning, trading right into a key support confluence: the 50-Day MA and the 1.3520 zone. A hold can stabilize price, but a clean break opens the door to a deeper pullback. UK labor data softened again. Unemployment rose to 5.2% (highest since 2020), while wage growth cooled — including private-sector pay, which the BoE watches closely. That combo strengthens the case for more BoE cuts, with March increasingly in focus and markets leaning toward additional easing later this year. Next catalyst is Wednesday’s UK inflation print, expected to cool to ~3.0% YoY, which would further support the “cuts incoming” narrative. The needle has shifted against GBP: it’s now the only major FX pair showing a bearish EdgeFinder reading of -6. - Alan