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Overall, GBP/USD is trending downwards. Recently, GBP/USD moved higher to the key level of 1.29. The UK employment data released yesterday indicated an increase in the number of claimants for unemployment benefits in August and a slight increase in the unemployment rate in August. -Claimant Count Change (Actual: 73.7K, Forecast: 99.5K, Previous: 69.9K revised from 94.4K) -Average Earnings Index 3m/y (Actual: -1.0%, Forecast: -1.3%, Previous: -1.2K) -Unemployment Rate (Actual: 4.1%, Forecast: 4.1%, Previous: 3.9%) The UK CPI y/y data will be released later at 1400 (SGT). -CPI y/y (Forecast: 0.1%, Previous: 1.0%) -Core CPI y/y (Forecast: 0.7%, Previous: 1.8%) Currently, GBP/USD is testing to break above the key level of 1.29. Its next support zone is at 1.28000 and the next resistance zone is at 1.30000. If the CPI data release is overall poor, look for short-term selling opportunities of GBP/USD if it bounces off the key level of 1.29.