The pound struggles over a rise in the UK’s unemployment rate. The pair has been hovering above 163.50 at the base of a bullish breakout in mid-October. This suggests that the bulls are still in the game and are probing for the bottom. After all, on the daily chart, the directional bias remains up despite a choppy price action. The area between the round numbers 166.00 and 167.00 is the first hurdle. Its break could pave the way for a rally above 169.00. On the downside, 162.00 is another support in case of further hesitation.
GBPJPY Attempts to Bounce
