GBP Futures (6B, Sep)
Daily TPO - Preference would be to buy dips back towards VWAP as the market will look to recover some of losses from Friday afternoon.
AM TPO - Similarly on the session TPO, we can see GBP drifting higher this morning with any dips considered an opportunity to get long (intraday). Trade with caution for longs as the possibility of another leg to the downside taking out last weeks lows remains strong.
GBPUSD 15min candlestick chart - we consider taking long positions into our short area, rather than chasing low pullback shorts, preference would be to sell from the marked zones below. Monitor order flow and intraday VWAPs for buys.
EURO Futures (6E,Sep)
AM Session TPO - Similarly on EURO, the ideal scenario would involve buying intraday dips for short moves into a wider term sell zone. Previous naked POC's looked like they will be retested from below.
Daily TPO - EURO looks higher risk than GBP as the poor lows on the daily still remain in place, suggesting they will taken out at some point today. For the time being EURO is not a market we would look to trade long given the poor lows
EURUSD 15min candlestick chart - These are just ideas on EURUSD for now, with daily single prints (sp) offering resistance and a potential sell zone for bears. Ideally we will monitor order flow throughout the day and see how the market reacts around our zones.
Trade Safe.
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