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Morning Outlook FX Futures, 25th Oct

GBP Futures (6b Dec)


Daily TPO


After heavy selling from the previous day on GBP, we will look for the market to continue its downside pressure for the time being meaning any rallies would be sold. Pre London, we are trading below previous day single prints and VAL which will offer a good opportunity to get short.


AM TPO


Preferred strategy would be to await a slightly deeper pullback towards 1.290 before considering shorts. This would align with the daily tpo above and provide a better risk to rewards ratio for short positions.



GBPUSD Spot market


The trade idea would look something like this - which we consider to be higher risk given how shallow the pullback would be.


Trade safe and stay patient.

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