GBP/USD Reached HFT Buy Zone!
|Analysis of HFT algorithms in the Forex market and the activity on the GBPUSD currency pair shows that this pair has reached interesting levels that may provide bullish trading opportunities.
GBPUSD has already reached the light HFT buying pressure zone today which is noted at 1.3029 and below. However, no solid rebound has been completed yet and the Master MACD and the FxTR improved CCI trend indicators are still bearish.
Thus, for the moment, it is early to consider entering any bullish positions, but traders should be on the lookout for any reversal signals that may be created here.
There is the risk that if the bearish move continues further, the momentum can accelerate and deal even greater damage to GBP.
On the other hand, though, if the pair bottoms and a bullish signal is given, traders will look to target the resistance trendline of the channel (around 1.3050 - 1.3060) and then the light HFT selling pressure zone which is noted at 1.3121 and above.
GBPUSD Current Trading Positions
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