We are analyzing Fx High-Frequency Trading algorithms and note that the GBPUSD currency pair has been very active during this Tuesday morning in Europe.
Earlier in the overnight session, the pair dipped down and tested the light HFT buying pressure zone - noted at 1.2184 and below. The bearish attempt was quickly rejected here, and GBPUSD bounced strongly.
The price is now pushing through the light HFT selling pressure zone to the upside, which is noted at 1.2302 and above. While this means that more sellers are likely to enter the market now, the high volatility in today's session suggests its possible that GBPUSD may record larger trading ranges.
The medium HFT selling pressure zone today is noted at 1.2419 and above, while the strong HFT selling pressure is at 1.2537 and above.
GBP/USD Current Trading Positions
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