FXstreet.com (Barcelona) - The amount of laid off workers applying for unemployment benefits rose by 24,400 in the UK in August, well above the 20,450 expected, with claimant count rate reaching reaching 5.0% of the workforce, the largest since August 1997, while the ILO unemployment rate rose to 7.9% in the three months to July. The Pound has edged down from levels above 1.6500 to 1.6480.

GBP/USD rebound from 1.6430 low has been halted at 1.6510 as the Pound moved below 1.6500 on the back of grim UK employment data, returning to levels around 1.6480. Support levels ,lie at 1.6430 and 1.6400. On the upside resistance levels remain at 1.6515 and 1.6540.