Coming up at the bottom of the hour: Latest UK services PMI data

Your UK data risk at 09.30 GMT 5 MarchYes folks, your next GBP data risk due shortly and of significance give the sector’s c.80% contribution to GDP
Curiously May devoted only 2 paragraphs of Friday’s Brexit compromise speech to the sector.

  • 53.3 vs 53.0 prev
  • composite  53.6 vs 53.5 prev

We can as always expect an initial algo headline-led reaction to the data if wide of the mark so be ready with your entry/exit levels from whichever side you want to play. I remain a rally seller.

Placing limit orders in advance can often be useful given the occasional speed of moves and subsequent reversals, although equally it can be prudent to wait and manually trigger executions once you’ve sized up the data in its entirety and gauged the price action.
GBPUSD currently 1.3800 having failed at 1.3820 again with EURGBP higher still at 0.8931. GBPJPY still in play too.
Order boards here and here
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