The big one for the UK economy

As you may or may not know, the services industry makes up the largest chunk of the UK’s economy and we get ther latest PMI from Markit at the bottom of the hour.

We’re expecting 53.3 vs 53.6 in Sep. A soft number could put some further pressure on an already soft pound. Some of the guys here in the ForexFlow live room have their eye on a rising trendline which comes in bang on the 1.3000, give or take some pocket change, and I quite like the look of the level anyway for a long so I may see how it plays out.

GBPUSD daily chart

I’ll be looking to get in at 1.3005/10, depending on what the number does.

Ryan Littlestone

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