GBP (6B Dec)
TPO Daily
Coming into the London session, we have auctioned down into POI's on the daily and below on the AM profiles. Currently we are trading at a potential level to get long, one final thought would be to confirm this idea with order flow on the London open, ensuring bulls are active.
AM TPO
Similarly we can see Fridays VAH been retested in Frankfurt, and so far holding up strong. The bias remains bullish therefore if we dip below, we will still be looking at further support to get long.
Spot market chart GBPUSD 15min
Cable is trading around the first area of interest for longs, the possibility remains of a slight dip lower before buyers step in however for those wishing to scale in and not necessarily wait for a tight stop loss, this would be a good area. The line in the sand to stay long would be the swing low around 1.22, if this breaks we could run some further lows to the downside which would be worth the risk to hold.
Trade Safe
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