GBP/USD Turned Down At HFT Selling Zone!
|We are analyzing the activity of HFT algorithms in the Forex market this morning and note that the GBPUSD currency pair has now reached the light HFT selling pressure zone, which is noted at 1.2574 and above.
The bullish attempt got nicely rejected here, and GBPUSD turned down. Nonetheless, it is still a bit too early to declare this a convincing reversal pattern just yet, given the powerful uptrend over the past few days.
The advanced CCI indicator is confirming the bullish trend while the Master MACD indicator changed from bullish to neutral on the rejection of the bullish attempt.
GBPUSD bearish will target the 1.2500 round number level today as well as the light HFT buying pressure zone lower, noted at 1.2452 and below.
GBP/USD Current Trading Positions
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