Against the backdrop of a depreciation of the American currency, the GBP/USD pair is correcting around 1.1332.
Yesterday, the media circulated excerpts from a statement by British Prime Minister Rishi Sunak, with which he intends to speak at today's 27th United Nations (UN) climate change conference. So, the position of the office is based on the rejection of fossil fuels in favor of renewable energy sources and that the United Kingdom is ready to work with foreign allies on the issue of an early "green transition." It may mean that the country will continue the policy of quickly abandoning oil and gas, which threatens serious economic problems. Sunak called the fight against inflation the key task for the government, which reached 10.1%, and not the pursuit of the well-being of citizens.
After rising in the first half of the week, the US dollar fell sharply on Friday to around 110.800 in the USD Index. Investors are disappointed by data on the labor market, according to which unemployment in the US in October unexpectedly increased to 3.7% from 3.5%, compared to the forecast of 3.6%, which was affected by a decrease in non-farm payrolls, which amounted to 261.0K jobs instead of 315.0K a month earlier. A more significant drop in employment was observed in the private non-agricultural sector: the figure fell to 233.0K from 319.0K earlier.
The instrument is kept within the long-term downward channel, trading near the resistance line.
Technical indicators keep a weakening buy signal: the range of the EMA fluctuation on the Alligator indicator is directed upwards, and the histogram of the AO oscillator forms new bars in the buy zone.
Resistance levels: 1.1460, 1.1756. | Support levels: 1.1154, 1.0840.