GBPUSD orders 5 Dec - UK services PMI next in focus

Author: Mike Paterson | Category: Forex Orders

Currently 1.3390 delicately poised

All ranging still so let's not get too carried away. Option related support expected into 1.3350

UK services PMI at 09.30 GMT is the big one given the sector's c.80% contribution to GDP
55.0 expected vs 55.6 prev

We can, as always, expect the initial algo-led reaction however the data plays out so be ready with your entry/exit levels from whichever side you want to play.

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.

Offers: 1.3420-25 1.3460 1.3480 1.3500 1.3520 1.3535 1.3550

Bids:   1.3365 1.3350 1.13330  1.3300 1.3280 1.3250

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