British Pound Futures (6B Mar 2025): Day Trading Analysis and Key Levels [Jan 03, 2025]

The British Pound Futures (6B March 2025) have continued their bearish trend, as highlighted in our analysis yesterday, reaching a low of 1.2347 (yesterday’s Value Area Low (VAL)) before rebounding slightly. Below is an updated analysis of key levels and scenarios for today’s trading session.

Key Levels for British Pound Futures Today

Bearish Levels to Watch

  • 1.2347: Yesterday’s Value Area Low, a naked level for today. Price revisiting or breaking below this level signals continued bearish pressure.
  • 1.2323, 1.2315, and 1.2307: A cluster of closely aligned levels below yesterday’s low. These levels represent potential stops for traders and are prime areas for shakeouts or bullish reversal attempts.
  • 1.2300: The psychological round number and another possible support level.

Bullish Levels to Watch

  • 1.2413: Yesterday’s VWAP, a key resistance level. Price failing to breach this level indicates ongoing bearish momentum.
  • 1.2437: Yesterday’s Value Area High (VAH). Price sustaining above this level would signal a bullish breakout for the cable.
  • 1.2535: The Value Area High (VAH) of December 31st, a major resistance level. If price rallies to this level, it’s a strong point to consider taking partial profits on a long.
  • 1.2521: December 31st Point of Control (POC), another key resistance and potential profit-taking zone for bulls.
  • 1.2550: A higher level where price may reverse if reached. This level would be an interesting spot to consider taking larger partial profits on longs or even initiating a short.

Day Trading Outlook for British Pound Futures

The British Pound Futures remain bearish, with price unable to reclaim yesterday’s VWAP at 1.2413, a sign of continued selling pressure. Traders should watch for a potential retest of yesterday’s low at 1.2347, and possibly lower levels around 1.2323, 1.2315, or 1.2307, where a bullish reversal may occur.

On the upside, the first major test is 1.2413 (yesterday’s VWAP). If price sustains above 1.2437 (yesterday’s VAH), it signals a possible bullish breakout. However, resistance at 1.2535 and 1.2550 could cap further gains, with profit-taking likely in these zones.

What British Pound Futures Traders Should Watch For

  • Above 1.2437: Bullish momentum may develop, targeting 1.2535 and 1.2550. These levels are critical for taking partial profits or initiating shorts.
  • Below 1.2347: Bears remain in control, with potential moves toward 1.2323, 1.2315, and 1.2307. These levels are significant support zones where bullish reversals may occur.

Always focus on structuring trades with favorable reward-to-risk ratios and monitor price action around these key junctions. Visit ForexLive.com for other perspectives and insights.