Daily HFT Trade Setup – EURGBP Finds a Bid Inside HFT Buying Zone


The activity of high-frequency trading algorithms on EURGBP today shows that buyers have entered the market here after the pair hit the light HFT buying pressure zone that is noted at 0.8689 and below.

EURGBP bounced on the intraday timeframes into the 0.8700 area (see hourly chart below). The initial resistance at this important psychological level is holding. The bulls will hope for a breakout, in which case, EURGBP should be propelled further higher.

Potential targets to the upside may be found toward and inside the light HFT selling pressure zone that is noted today 0.8731 and above.

Don't Miss: Stay On Top Of The Game By Reading Our Weekly Forex Forecast Of EUR/USD, GBP/USD, USD/JPY (Fundamentals + Technicals)