Daily TPO
We will look to sell into any strength this morning as long as we hold the resistance above in the form of the value area high and single print.
AM TPO
This aligns with high value node on the AM TPO which we can expect will return to sweep Asia lows in the first instance.
Pre market we are seeing a rally filling in some of Asian range, which is not supported by the delta graph below. This is often a sign of underlying momentum building with a squeeze to the other side. As we approach the +2SD band we will be looking for a flip in order flow to confirm a short entry.
GBPUSD Spot market
The idea would look something like this, with a wider term sell off pending. Keep in mind we have BOE on Thursday and FOMC tomorrow evening therefore its unclear if we will see any major moves in the market ahead of these announcements. Perhaps intraday positions and targets will perform better.
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