GBP Futures (6B, Sep)
Starting with the pound this morning, we are seeing a rally into the Frankfurt open which could bring us into a clean area for shorts. Given the poor lows printed, its unlikely this will be the start of a hard rally without taking the lows. Therefore we will remain with the short term trend that is griding lower as long as our key levels (consisting of high vol node / previous VAL on the AM profile, 2 day daily poor high and weekly profile dip) hold.
AM TPO
DAILY TPO
GBPUSD 15 Min Candlestick chart
EURO Futures (6E, Sep)
A textbook start to the day for EURO, opening up on the daily at the POC and auctioning higher, with the AM profile showing a slight retest of yesterdays session TPO and heading higher. However, there is a lot of selling zones ahead for EURO, meaning we will be watching for a shift in order flow the higher we auction.
AM TPO
Daily TPO
15min candlestick chart EURUSD
Potential setup given the volume of key levels the market is facing, we would need to watch order flow to confirm a short term switch from buyers to sellers.
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