GBP futures (6B, Dec)
Daily TPO
The bias for the coming weeks still remains bearish, we do believe there is another push lower that could occur for GBP however for medium term swings its important to be patients and wait for obvious entry points.
We have pulled back in the London session however the possibility for another push higher on GBP still remains. Therefore, proceed with caution for shorts just yet.
PM session TPO
As the PM profile opens, we can see this pushing higher this afternoon from one of two levels. If they both fail then we may start a more sustained bearish move back towards 1.200 once again.
GBPUSD spot market
The TPO levels of interest would look something like this in the spot market charts. These ideas are something of interest for an intraday play back towards a more favourable sell zone. Footprint charts would give a good indication as to whether these levels may hold or not.
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