With Ascension Day in Europe and the pending US Non farm Payrolls on Friday our focus for the European session turns to the UK Services PMI.
Recent UK data has been negative and potential set ups to look out for – on the upside , a slight beat on the Services PMI figure.
A rally up to around 1.45750 – 1.45950 level you could look to fade the move back down to around 1.45350 – 1.45175 , with a stop loss around 1.46100 just above the trendline.
On the other hand should the data come out worse than expected you could look to sell below 1.44700 with take profit levels around 1.44100 and then further down around 1.43450. Stop Loss for this set up around 1.45150
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