UK services PMI came in under expectations but the pound has rallied 5 May
Both Ryan and I posted previews suggesting we should expect weaker UK services PMI data and that's what we got.
To be honest it wasn't the most difficult forecast I've ever made and traders were undertstandbly ahead of the game.
Good support into 1.4455-60 has held and now shorts have run for cover and we're back above 1.4500. EURGBP helping by heading down to test 0.7880-85 support as EURUSD holds below 1.1450.
Another case of sell-rumour/buy-fact.
