GBP/USD Bounces At HFT Buy Zone!

FX Trading Revolution Team FX Trading Revolution

The analysis of the HFT algorithms activity in the Forex market today shows that the GBPUSD currency pair reached and bounced at the light HFT buying pressure zone earlier today, which is noted at 1.2967 and below.

The bulls will be looking at the light HFT selling pressure zone - noted at 1.3080 and above - as a potential target to the upside in a bullish scenario. However, the 1.30 round number level as well as the 1.3030 minor resistance stand in front and could be areas where a possible bullish move may pause or even reverse.

Bullish signals have already started to appear on the 1-hour timeframe here, such as candle patterns and change in trend on momentum indicators.

GBP/USD Current Trading Positions

Sell 82%

Buy 18%

Avg Sell Price 1.3022

Avg Buy Price 1.2975

Liquidity Distribution

FX Trading Revolution - Your Revolutionary Forex Source

Author

FX Trading Revolution Team

FX Trading Revolution

The FX Trading Revolution website is a free independent FOREX source, and was founded to provide true and unbiased information about FOREX trading.

EUR/USD loses traction, breaks below 1.1900

EUR/USD comes under extra downside pressure, breaching below the 1.1900 support once again on Tuesday. The improved tone in the US Dollar keeps the pair on the back foot after two consecutive daily advances. In the meantime, prudence is expected to kick in ahead of the release of the key US Nonfarm Payrolls on Wednesday.

GBP/USD slips back to daily lows near 1.3640

GBP/USD drops to daily lows near 1.3640 as sellers push harder and the Greenback extends its rebound in the latter part of Tuesday’s session. Looking ahead, the combination of key US releases, including NFP and CPI, alongside important UK data, should keep the pound firmly in focus over the coming days.

Gold the battle of wills continues with bulls not ready to give up

Gold remains on the defensive and approaches the key $5,000 region per troy ounce on Tuesday, giving back part of its recent two day. The precious metal’s pullback unfolds against a firmer tone in the US Dollar, declining US Treasury yields and steady caution ahead of upcoming key US data releases.

Bitcoin's downtrend caused by ETF redemptions and AI rotation: Wintermute

Bitcoin's (BTC) fall from grace since the October 10 leverage flush has been spearheaded by sustained ETF outflows and a rotation into the AI narrative, according to Wintermute.

Dollar drops and stocks rally: The week of reckoning for US economic data

Following a sizeable move lower in US technology Stocks last week, we have witnessed a meaningful recovery unfold. The USD Index is in a concerning position; the monthly price continues to hold the south channel support.

XRP holds $1.40 amid ETF inflows and stable derivatives market

Ripple trades under pressure, with immediate support at $1.40 holding at the time of writing on Tuesday. A recovery attempt from last week’s sell-off to $1.12 stalled at $1.54 on Friday, leading to limited price action between the current support and the resistance.