GBP Futures (6b, Dec)
Daily TPO
Given where the London session is about to open, we are in favour of a slight push higher in order to find a short position, perhaps intraday as after yesterdays bullish push, GBP is beginning to look like it has found a base for the wider term pullback.
AM TPO
The AM profile shows a cluster of resistance just above the current price, from 1.2290 - 1.2310 (futures pricing) we will be watching for a potential sell off.
As for long positions, we would need to see the daily TPO correct itself and find support on some of the single prints from yesterday.
GBPUSD spot market
Potential setup into the London open, we have GBP services PMI during the London session therefore we may see some manipulation around this, however given where the market is trading, this would appear to be the highest probability setup for the London session.
Trade Safe.
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