GBP/USD Reaching For The HFT Sell Zone!
|We are analyzing the activity of HFT trading algorithms on the GBPUSD currency pair this morning and note that the pair is now entering the light HFT selling pressure zone that is noted at 1.3099 and above for today's day-trading session.
This light HFT selling pressure zone is highlighted by our advanced HFT indicator as an area where potential bearish reversals can occur. Forex traders will, thus, be on the look for a possible top here in GBPUSD today.
However, some extra confirmation will be needed before a more convincing bearish signal is formed. So far, hourly trend indicators are still bullish, and no bearish candle pattern appears. If that happens, GBPUSD may decline toward the light HFT buying pressure zone today, which is noted at 1.3041 and below.
GBP/USD Current Trading Positions
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