GBP Futures (6B Dec)
Daily TPO
We will be opening up towards the Asian lows with heavy bearish pressure. We have no intention of buying this market for the time being but rather awaiting a pullback to get short. Looking at the daily, we can see the sea of resistance from the previous day profile above the Asian high, this will provide a clear selling zone if the market is to return to this area.
AM TPO
On the Morning profile the areas of interest are far from current price actions, therefore we may see a shallow pullback and continuation to the downside. If any pullback were to occur it would be from the POC right below the Asia low otherwise we shall await a setup that fits out trading plan better, perhaps on the PM profile.
GBPUSD Spot market
This is what our trade idea would look like in the spot market with a clean entry idea. Our bias remains strongly to the downside for the time being to refill some of the imbalance created from NFP.
Trade safe.
Comments