The UK Office for National Statistics (ONS) is set to release its labor market report at 07:00 GMT, a key indicator for traders monitoring the GBP/USD exchange rate. Analysts anticipate an uptick in the ILO Unemployment Rate to 5.1% for October, compared to 5.0% in September, which may exert downward pressure on the British pound. Additionally, September’s Employment Change recorded a decline of 22,000 jobs, further highlighting concerns about the UK labor market.
Market participants will closely watch the report for indications of economic health in the UK, as a weaker labor market could lead to potential shifts in the Bank of England's monetary policy. A disappointing report might reinforce bearish sentiment on GBP/USD, with possible technical levels to monitor around 1.2200. Conversely, any surprise positive data could bolster the pound, leading to an upward adjustment in the currency pair amid ongoing volatility in the forex market.
About FX Killer Trader Incubation Program
Want to become a professional trader? FX Killer offers a completely free professional trader training program. We provide systematic courses, practical training, and professional mentorship to help you grow from beginner to full-time trader.
👉 Join Free Training Program | Trading Psychology Assessment
Data Source: FX Killer Analysis Team Updated: 2025-12-16 04:54
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.