UK data risk at 09.30 GMT 5 Feb
Yes folks, your next GBP data risk due shortly and of all the UK sector PMIs it's the services sector that is most likely to shake things given it's c. 80% contribution to GDP.
54.1 exp vs 54.2 prev
GBPUSD currently 1.4143 near session highs with EURGBP steady around 0.8815 after failing above 0.8830 but EURUSD also higher at 1.2470.
We may, 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.
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.
