Daily HFT Trade Setup – GBPUSD Is Dropping After Reversal at HFT Sell Zone
We are analyzing the activity of HFT algorithms on the GBPUSD Fx pair this morning and note that the price reached the light HFT selling pressure zone, which is located today at 1.3747 and above. The price reacted well there, the bullish attempt having reversed, and GBPUSD is now moving down.
Today's price action points to further downside continuation. In addition to the reversal at the HFT selling zone, the FxTR Master MACD indicator turned bearish on the hourly timeframe (see chart below).
GBPUSD bears will look for targets toward the light HFT buying pressure zone that is noted today at 1.3652 and below. The recent prior lows there make the area an important short-term technical zone as well.
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