Pound Sterling gains sharply after mixed UK employment data

Pound Movement

The Pound Sterling (GBP) has surged against major currencies, particularly reaching near 1.3480 against the US Dollar (USD) on Tuesday. This movement is attributed to the release of UK employment data. The employment situation indicated changes over a three-month span, specifically highlighting the data for November, which positively impacted the market.

Impact of Employment Data

Despite the mixed results in the employment data, the effects on the Pound were notably positive. Market participants are keenly observing how this data could influence future economic conditions and the UK central bank's monetary policy, leading to upward pressure on the Pound.

Technical Analysis

The Pound seems poised to target the psychological level of 1.35, which means attention must be paid to the market's potential movements. It remains to be seen whether it will see further gains or encounter resistance.