GBP/USD Bounces At HFT Buy Zone!
|The analysis of the HFT algorithms activity in the Forex market today shows that the GBPUSD currency pair reached and bounced at the light HFT buying pressure zone earlier today, which is noted at 1.2967 and below.
The bulls will be looking at the light HFT selling pressure zone - noted at 1.3080 and above - as a potential target to the upside in a bullish scenario. However, the 1.30 round number level as well as the 1.3030 minor resistance stand in front and could be areas where a possible bullish move may pause or even reverse.
Bullish signals have already started to appear on the 1-hour timeframe here, such as candle patterns and change in trend on momentum indicators.
GBP/USD Current Trading Positions
FX Trading Revolution - Your Revolutionary Forex Source
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.