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London Hypo 27th April

EURO Futures (6E, June)

Bias remains bearish this morning as long as we remain below yesterdays high, we are prepared for spikes on the open.

Line in the sand for shorts : 1.1105

AM session TPO

Trapped this morning pre London - we have opened above the POC but inside yesterdays value area therefore I would like to see a break and retest in one direction (bias bearish).

2 Day Daily TPO - once merging the daily TPO for the previous 2 days, we can see a clear value area and VAH that aligns closely within the naked POC on the AM session. The Asian high (pink bar) could be utilised by sellers on the London open.

EURUSD candlestick chart - Slow pullback after yesterdays drop with multiple resistance zones and an order block right at the highs (unlikely to be be tapped). If we do manage to reach all the way here it will bring into question whether it will hold as a double top or not. I would prefer to see London open bearish immediately.

GBP Futures (6B, June)

Line in the sand for shorts: 1.2515 (Trading view)

Opening at the VAH of yesterdays TPO and having now broken down through the POC, AMT points towards further selling throughout the London session. We would not be interested in Long positions until a significant change in sentiment.

AM session TPO

Daily TPO

Inside value from yesterday - unclear from the daily whether we will get a run at the Asian high before further continuation or just sell from here, either way bias remains bearish and any rally should be seen as a short opportunity.

GBPUSD candlestick chart

Low probability setup given the choppy price action over the past few sessions, we are stuck in a range. However, given the levels on the TPO, we would still advise keeping this on your radar as it sits as a potential setup as per AMT.


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