UK unemployment jumps to 4.3% in September- GBP/USD falls below techncial support

The UK jobs report has just been released and it was not good. The rate of unemployment has risen to 4.3% in the 3 months to September and that is well above the 4.1% rate expected. The employment change was disappointing too. The level of average wages has increased above forecasts too, but not by that much. The Pound has fallen below the noted 200 day moving average after the release, but it has dipped below it beforehand too. The thing to note here as wel, is this data does not appear to have been a surprise to some in the markets as the Pound was falling ahead of the release. Make of that what you will. The GBP/USD is trading right now at 1.2814