Daily HFT Trade Setup – EURGBP Moving Into HFT Selling Zone
The analysis of HFT algorithms this Monday morning flags the EURGBP pair as a potential bearish reversal play for today's trading session.
Namely, EURGBP reached the light HFT selling pressure zone this hour, which is located at 0.86 and above.
The price reaction so far here is modest, but there is scope for more sellers to enter.
Friday's high of 0.8605 also stands near the current levels as well as the 0.86 round number, which should add additional technical resistance forces in this area.
The light HFT buying pressure zone is standing today at 0.8562 and below. Slightly above it, the band of lows around 0.8570 forms a solid intraday-support zone.