FX Trading Revolution Team
FX Trading Revolution
We are analyzing the trading activity of HFT algorithms in the Fx market today and have noticed that bearish trading opportunities may be provided on the GBPUSD currency pair.
Notably, Cable has already reached the light HFT selling pressure zone which is today noted at 1.2924 and above. The bullish attempt was swiftly rejected here and GBPUSD is now a step away from completing an evening star pattern.
The evening star is a bearish candlestick pattern and the fact that it appears at the light HFT selling pressure zone strengthens the case for bearish continuation on GBPUSD today.
The light HFT buying pressure zone that is noted at 1.2843 and below can be used for determining profit targets on bearish positions today.
GBPUSD Current Trading Positions
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