GBP/USD Turned Down At HFT Selling Zone!

FX Trading Revolution Team FX Trading Revolution

We are analyzing the activity of HFT algorithms in the Forex market this morning and note that the GBPUSD currency pair has now reached the light HFT selling pressure zone, which is noted at 1.2574 and above.

The bullish attempt got nicely rejected here, and GBPUSD turned down. Nonetheless, it is still a bit too early to declare this a convincing reversal pattern just yet, given the powerful uptrend over the past few days.

The advanced CCI indicator is confirming the bullish trend while the Master MACD indicator changed from bullish to neutral on the rejection of the bullish attempt.

GBPUSD bearish will target the 1.2500 round number level today as well as the light HFT buying pressure zone lower, noted at 1.2452 and below.

GBP/USD Current Trading Positions

Sell 50%

Buy 50%

Avg Sell Price 1.2216

Avg Buy Price 1.2318

Liquidity Distribution

Your Revolutionary Forex Source

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: US Dollar to remain pressured until uncertainty fog dissipates

Unimpressive European Central Bank left monetary policy unchanged for the fifth consecutive meeting. The United States first-tier employment and inflation data is scheduled for the second week of February. EUR/USD battles to remain afloat above 1.1800, sellers moving to the sidelines.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold: Volatility persists in commodity space

After losing more than 8% to end the previous week, Gold remained under heavy selling pressure on Monday and dropped toward $4,400. Although XAU/USD staged a decisive rebound afterward, it failed to stabilize above $5,000. The US economic calendar will feature Nonfarm Payrolls and Consumer Price Index data for January, which could influence the market pricing of the Federal Reserve’s policy outlook and impact Gold’s performance.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

US NFP and CPI data awaited after Warsh’s nomination as Fed chief. Yen traders lock gaze on Sunday’s snap election. UK and Eurozone Q4 GDP data also on the agenda. China CPI and PPI could reveal more weakness in domestic demand.

Three scenarios for Japanese Yen ahead of snap election

The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans.

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.