GBP/USD spikes near HFT buying zone
|We are analyzing high-frequency trading algorithms in the foreign exchange market this Wednesday morning and find that the GBPUSD pair shows interesting price behavior that may create some buying opportunities.
GBPUSD came down sharply earlier in the morning, almost touching the light HFT buying pressure zone that stands at 1.3337 and below in today's session. The price then bounces on volatile trading driven by Brexit headlines. Such volatility has become normal for GBP traders since the 2016 Brexit referendum. Therefore, it's important to remember that technical levels and patterns can be easily broken on such bouts of unexpected volatility.
To the upside, the light HFT selling pressure zone is noted today at 1.3464 and above.
GBP/USD Current Trading Positions
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