GBP Futures (6B, Sep)
Daily TPO - another quick sell off in the Frankfurt open has us dropping in towards the naked POC on the daily TPO. Its clear the market is trending bearish however with shallow pullbacks and clear liquidity above, be aware of a bullish drive this week if not next.
AM TPO - We can see to the left the AM TPO has ran the naked POC below and could look to retrace. The bias remains that bears could begin to struggle here as bulls go for a push higher clearing some liquidity.
GBPUSD 15min candlestick chart - As the market approaches the key TPO levels we will be looking for signs of exhaustion and reversal from here. The idea is not an order but rather a potential setup if the market reacts as we hope from here.
EURO Futures (6E, Sep)
Daily TPO - similarly on EURO, the market is approaching a naked POC where we could expect to find buyers.
AM TPO - the single print below current prices could provide the buying power the market is looking for, at least fuelling a deeper pullback.
EURUSD 15min candlestick - EURUSD continues its range and doesn't offer much in the way of medium term bounces. We may find support around the naked POC and find some buyers however it doesn't offer the same sort of setup the GBPUSD does.
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