GBP Faces Decline: Overview for January 16, 2024

<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/GBPUSD_8-Copy-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="GBP/USD analysis today" style="margin-bottom: 15px;" decoding="async" loading="lazy" /></div><p>The <a href="https://roboforex.com/beginners/info/charts/forex/gbpusd/" data-internallinksmanager029f6b8e52c="36" title="GBP/USD">GBP/USD</a> pair experiences a setback, missing an upward <a href="https://blog.roboforex.com/blog/2019/11/12/momentum-efficient-oscillator-or-trend-indicator/" data-internallinksmanager029f6b8e52c="96" title="Momentum">momentum</a>.</p>

<p>The British pound sterling, in conjunction with the US dollar, has retreated from its recent five-month high, resulting in the current GBP/USD exchange rate at 1.2677.</p>

<p>GBP encountered pressure as global investors shifted away from risks on Tuesday, with the US dollar gaining demand as a safe-haven asset.</p>

<p>Today marks an active day in terms of macroeconomic statistics. The UK is set to release unemployment figures for November, expected to rise to 4.3% from the previous 4.2%. Initial jobless claims in December might have increased by 18.1 thousand, compared to the previous reading of 16.0 thousand.</p>

<p>Job openings statistics are expected to remain at the 50 thousand level, while average wages in November might have increased by 6.8%, following a growth of 7.2% in October.</p>

<p>All these reports play a crucial role in determining <a href="https://blog.roboforex.com/blog/2022/06/30/what-is-inflation-reasons-and-consequences/" data-internallinksmanager029f6b8e52c="220" title="Inflation">inflation</a> levels and understanding the potential future steps of the Bank of England concerning the <a href="https://blog.roboforex.com/blog/2019/10/22/trading-news-how-to-earn-on-interest-rates/" data-internallinksmanager029f6b8e52c="90" title="Interest rate">interest rate</a>.</p>

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