GBP/USD holding just below 1.32 as UK labor data rounds the corner

• GBP/USD extends its ongoing bullish surge on Monday.
• Cable has paused a four-day winning streak as traders brace for the latest UK labor data.
• Broader markets eagerly await the resumption of official US datasets.

GBP/USD kept its foot on the gas pedal on Monday, extending into a four-day win streak as Cable traders gear up for the latest round of UK employment figures. Veterans Day will see a moderation of market flows in the US on Tuesday, but hopes that the US could be close to wrapping up the longest government funding closure in its history should keep risk appetite well bid and put a hard cap on bullish US Dollar (USD) flows.

UK data on deck, US data remains MIA

UK Average Earnings, Claimant Count Change, 3-month Employment Change, and 3-month ILO Unemployment Claims are all due at the outset of the London market session on Tuesday. Wages both with and without bonuses factored in are expected to tick down slightly for the rolling three-month period ended in September. The UK's domestic economy is also expected to add slightly fewer unemployment benefits seekers in October than the month prior; however, the three-month ILO Unemployment Rate is expected to tick upwards to 4.9% from 4.8%.

Official datasets on employment and inflation remain dark in the US amidst the longest-running federal government funding freeze in the country's history. Donald Trump stands tall among US presidents for personally overseeing both of the longest US government shutdowns ever recorded. Still, markets are now hopeful that a short-term funding solution will be passed by the US House of Representatives before the end of the week, which will theoretically jumpstart the flow of official inflation and labor statistics resources.

GBP/USD daily chart