The quid remains firm after drop in Services PMI

To be honest I was expecting a bigger move south on that number with the BOE hattrick tomorrow.

It wasn't a terrible number but it could have added weight to dovish interest rate expectations. The price tells the story and we've already had one clue with the reaction to Lockhart's overnight comments in other dollar pairs

It suggests that traders are well positioned for hawkish news tomorrow, which means the main risk is disappointment

We're pretty much treading water right now so I'm not expecting any big moves outside of recent ranges

GBPUSD H4 chart