Global macro overview for 11/11/2015:
Economic data from the UK, regarding employment and earnings, has been released this morning. The reports unveiled only a minimal decrease in the unemployment rate that went down from 5.4% to 5.3%, but more important figures were average earnings, which had declined from 2.8% to 2.5% on a three-month basis. As the UK economy is a consumer-driven economy, this decline is not a particularly good news, especially as we are approaching the crucial holiday period.
The GBP/USD pair had reacted negatively to the reports. It is coming down from the local high at the level of 1.5185. The next support is seen at the level of 1.5104.