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UK Services PMI will always be a much looked at data given the services economy that is the UK.

I decided to put in my GBPUSD straddle with the following detail: –

Stop if Offered at 1.2444, Spot at 1.2474, Stop if Bid at 1.2474

Though the PMI came out strong at 55 versus forecast of 53.5, the GBP just didn’t make much of a move, it did trigger my stop if bid leg.

I squared the position at 1.2492 for a small trading profit of 18bps.

 

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