Daily HFT Trade Setup – GBPUSD Range-Trading Between HFT Buy & HFT Sell Zones
We are analysing the activity of high frequency Fx trading algorithms this morning and note sideways movement in the GBPUSD currency pair, in what could turn out to be a relatively quiet session due to UK's and US' holidays today.
Namely, GBPUSD reached a peak last Friday and is now trading slightly under these levels. Some sideways consolidation in the near-term would make sense from the larger perspective as well, which could give rise to range-trading opportunities.
Fx traders will be looking for potential setups if the price reaches one of the nearby HFT zones today, which are located at the following levels:
- the light HFT buying pressure zone at 1.4145 and below.
- the light HFT selling pressure zone at 1.4216 and above.