The Paul Nicholls-trained Old Guard will miss the Champion Hurdle on the first day of the Cheltenham jumps festival.

That leaves a field 12 to go to post on Tuesday (Wednesday AEDT) headed by the Willie Mullins-trained Annie Power.

The mare was a late entry last week after injury ruled her stablemate Faugheen out of the feature and she will be ridden by Ruby Walsh.

Mullins is also represented by Sempre Medici and Nichols Canyon in the Champion Hurdle.

With Annie Power switching to the Champion Hurdle, champion Irish trainer Mullins will rely on Vroum Vroum Mag in his attempt to win the Mares' Hurdle for the eighth consecutive year.

After a drying day on Sunday, the Cheltenham track had improved in parts from soft all round to good to soft.

The Australian TAB is betting on selected races over the four days which culminate in the Gold Cup in the early hours of Saturday morning (AEDT).