Daily HFT Trade Setup – EURGBP Stops After Reaching HFT Sell Zone
High frequency trading algorithms' activity in the Fx market this morning indicates that the EURGBP pair may offer trade setups from the short side in the session ahead.
EURGBP has now reached the light HFT selling pressure zone that is located at 0.8627 and above. The price reacted well here, the bullish attempt was stopped, and EURGBP is falling.
The advanced FxTR overbought/oversold indicator shows that this reversal of the bullish attempt comes at overbought prices on the hourly EURGBP timeframe (see chart below).
Traders will now be looking for an hourly break below the 0.8610 - 0.8615 zone as a confirmation signal that more bearish price action will follow.
The light HFT buying pressure zone is located today at 0.8589 and below.
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