GBP Weekly Forecast (Mar. 16 – 20)

Apart from the jobs report, there’s not much in the way of major U.K. economic releases this week as the focus could stay on overall sentiment.

U.K. jobs figures (Mar. 17, 9:30 am GMT)

• February claimant count change to come in at 6.2K vs. 5.5K previous
• Unemployment rate to hold steady at 3.8%
• Average earnings index to rise from 2.9% to 3.0% for the three-month period ending in January
• Wage growth figures have been coming in weaker than expected for four out of the last five months

Technical snapshot

• RSI is showing that most GBP pairs are looking bullish.
• In particular, the pound is oversold against the franc, yen, dollar, and euro.

• Moving averages for GBP pairs are looking mixed. Most pairs are in bearish territory while GBP/AUD and EUR/GBP are on bullish ground.

Missed last week’s price action? Make sure you check out the GBP Weekly Review for Mar. 9 – 13!