Daily HFT Trade Setup – GBPUSD Reaction at HFT Buying Zone
We are analyzing the activity of high frequency Fx trading algorithms this morning and find that the GBPUSD pair has reached the light HFT buying pressure zone that is noted today at 1.413 and below.
The price reacted quickly just after touching the zone and rebounded. The hourly chart shows the two rejections, although a strong bullish candle hasn't been created here yet.
Here at the light HFT buying zone, GBPUSD is also near the prior lows and the bottom of a larger range (daily chart).
To the top side, Fx traders are looking up toward the light HFT selling pressure zone that is located at 1.4209 and above. Prior highs are located slightly below, around 1.4190.
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