4:30am (NY Time) UK Service PMI Forecast 57.1 Previous 56.9
ACTION: GBP/USD SELL 55.00 BUY 59.00
Our focus will be on the Services PMI figure today and we’ll look for a minimum deviation of 2.0 from the forecast release figure. If we get at least 59.0 or better, we could see further demand in the GBP that should justify for LONG trades on GBP/USD or GBP/JPY pairs. If we get a 55.0 or worse release, GBP could weaken or at least show a quick profit taking reaction from the overnight bullish move.
