GBP Futures (6B, Dec)
Daily TPO
The downtrend remains in place despite having found buyers during yesterdays session. The support towards 1.200 remains untapped and open for another dip lower therefore as yet we have seen enough from the market to suggest we will start a longer term bullish run.
Any rallies therefore will be seen as an opportunity to get short, with the previous day Value area high being the first POI at 1.2156.
AM TPO
We are sitting on a London session support zone that we may see the market react from on the open, however the bias remains the same and any bullish run on the open will merely be an opportunity to sell until the market tells us otherwise.
GBPUSD Spot market
The trade setup would look something like this. It would require another push to the upside clearing the Asian highs and into our key TPO levels.
Trade Safe.
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