We are analyzing the trading activity on HFT algorithms in the Fx market today and have noticed that the EURGBP currency pair has reached the light HFT selling pressure zone that is noted at 0.8919 and above.
This suggests selling opportunities could exist today, although support is still not broken and EURGBP already reacted with it by bouncing at the 0.8900 level. Therefore, short opportunities would be provided only after a bearish breakout of this support materializes, though selling higher inside of the light HFT selling pressure zone and at the 0.8930 resistance could also offer good opportunities.
In the bearish scenario, the light HFT buying pressure zone that is noted at 0.8878 and below would be the price area to target.
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