GBP/USD bounces at HFT buy zones and rallies to light HFT sell zone!
|We are analyzing Fx High-Frequency Trading algorithms and note that the GBPUSD currency pair has been very active during this Tuesday morning in Europe.
Earlier in the overnight session, the pair dipped down and tested the light HFT buying pressure zone - noted at 1.2184 and below. The bearish attempt was quickly rejected here, and GBPUSD bounced strongly.
The price is now pushing through the light HFT selling pressure zone to the upside, which is noted at 1.2302 and above. While this means that more sellers are likely to enter the market now, the high volatility in today's session suggests its possible that GBPUSD may record larger trading ranges.
The medium HFT selling pressure zone today is noted at 1.2419 and above, while the strong HFT selling pressure is at 1.2537 and above.
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.