Thursday's session has formed a hammer candle in a downtrend. This is the reversal signal, and we can enter a position based on the hammer pattern alone. A Support has formed at 15132. 

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Suggested Trade:

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Buy GBPUSD @ 1.5220-15250

Stop Loss @ 15127

Take Profit @ 15380 in the best case.…

SPX – Approaching Supply Zone (Resistance)

Supported despite the political and fiscal problems in Portugal and mostly due to expextations of a near ECN tightening policy.

Stops under 1.4050 taken out overnight, model and real money funds bargain hunting on the retracement. Offers layered between 1.4070 and 1.4100. Buy stops above 1.4100.

Remember we have a 150m option expiry at 1.4200.