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The UK Consumer Price Index will be released 24 hours after employment data.The United Kingdom will publish its monthly employment report on Tuesday, August 15, and financial markets are anticipating some good
Bottom line, the labor market is expected to remain tight while inflationary pressures are seen increasing. In the meantime, the UK economy lacks impulse, and so does the Pound. The British Pound could benefit from easing wage growth and from an uptick in the Unemployment Rate, while the opposite scenario could boost speculation of higher rates and hence, a higher risk for a recession.From a technical perspective, GBP/USD seems on the brink of a bearish breakout. The daily chart shows a Head&Shoulders formation, with the neckline standing at around 1.2600. The top of the figure is July's monthly high at 1.
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