EUR/GBP At HFT Selling Zone!
|Analysis of the trading activity on HFT algorithms this morning shows that the EURGBP currency pair has reached the light HFT selling pressure zone which is noted at 0.8639 and above.
Bearish trading opportunities could be provided in the trading session ahead if EURGBP starts to reverse around this important HFT Sell Zone.
The Master MACD indicator, for the moment, is not confirming a bearish signal and the price action is sideways with the high near 0.8650 acting as classical horizontal resistance. A reversal pattern or a bearish signal from the indicators around this level can offer confirmation for initiating a short trade.
The light HFT buying pressure zone to the downside which is noted at 0.8587 and below will be considered for placing profit targets.
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