GBP Futures (6B, December)
Daily TPO
Selling off sharply pre London, we expect weakness in the pound to prevail early in the week taking us towards the 1.200 level once again. The risk of running the Asian high remains a possibility throughout the session which would simply just provide a selling opportunity.
AM TPO
The market is already approaching AM support which will likely see a little profit taking, however we will be watching the AM single print zones for scaling into short positions on the market open. If it continues to run higher, then we will look just above the Asian highs for further shorts however medium term long positions will not be considered from these levels just yet.
GBPUSD spot market chart
The trade strategy for the session on GBP would look like this - this would be the highest probability of a short setup if the retracement is given on the open. If this fails, consider the Asia highs once again for shorts if the footprints confirms it.
Trade Safe.
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