Daily HFT Trade Setup – EURGBP at HFT Sell Pressure Zones Going Into US CPI Release
High frequency trading algorithms' activity in today's Fx session shows that the EURGBP pair has reached the light HFT selling pressure zone is standing for today's session at 0.8479 and above.
The pair is up for most of today's session so far and has now stalled after hitting the HFT sell zone. This comes just ahead of the release of the US CPI inflation report at 2:30 pm CET (8:30 am ET). The market reaction could be volatile on the release, which may also affect EURGBP even though it's not a USD pair.
Short-term traders will be looking for how the price action unfolds here around the HFT levels and will be looking for potential setups.
The light HFT buying pressure zone is located today at 0.8448 and below.
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