HFT algorithms buying GBP/USD in an uptrend
|We are analyzing high-frequency trading algorithms in the Fx market this morning and find that the GBPUSD pair is near the light HFT buying pressure zone.
This HFT buying zone is noted at 1.2934 and below, coinciding with technical levels that underpin the strong uptrend in GBPUSD. Long signals around the HFT area may potentially be opportunities to join the uptrend for another extension higher.
GBPUSD is now retracing, but if the uptrend resumes, then the price is likely to exceed the prior high around 1.3015 established yesterday. The light HFT selling pressure zone - today noted at 1.3035 and above - would be of interest as a potential target.
GBP/USD Current Trading Positions
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