UK Labor Market Stronger Than Expected

Looking at the UK labor market figures, I can't help but think the Bank of England will have a tough decision. Unemployment claims decreased further, and wage growth remains high. This clearly indicates that inflationary pressures persist and won't disappear easily. Even though GDP looks weak, such a tight labor market makes it difficult for the BoE to cut interest rates.

For me, with this situation where economic indicators are mixed and hard to read, I still believe $GBP has a chance to trade in a wide range. To expect it to drop sharply from 0.81345 or rebound significantly to 0.82356 will require more time to observe. I don't see any decisive factors that could change the game anytime soon. I think range trading is still the safest strategy right now.