GBP (6B Dec)
AM TPO - Little in the way of support on the morning TPO following a sharp sell off. London session bias remains neutral as higher time frames are offering support for the pound.
Daily TPO - Running into a previous VAH, we have found some buyers post news. although given the momentum, it would be considered very high risk to try and catch a bounce from here.
Weekly TPO - the weekly indicates a single print support aligning with the daily VAH. With that being said we have already witnessed a slight yet bounce that couldn't take hold therefore expectations for bulls are dwindling.
15min candlestick chart GBPUSD - little in the way of levels or opportunities this morning. Daily support rests below the current TPO levels which the market could quite well dip into.
EURO Futures (6E, Dec)
AM TPO - shorts preferred from previous day VAH and SP area, clearing Frankfurt highs. Will monitor for a delta flip on the Footprint chart to potentially take EURO lower.
Daily TPO - Similarly on the daily profile this would mean retesting the Asian highs alongside the VAH from the previous day. This would a much preferred setup over anything that GBP offers this morning.
VWAP - flat VWAP's and SD bands indicate a rotational period, at least for this morning. We will be watching the footprint for potential sells at +2sd.
EURUSD 15min candlestick chart - trade idea not to be taken blindly. Retail head and shoulders pattern which might trick sellers in only to see a rally. None the less if we see absorption and a delta flip on the FP, shorts remain valid.
Trade Safe.
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