Daily HFT Trade Setup – GBPUSD at HFT Buying Pressure Zone Into BOE Meeting
The activity of HFT algorithms in the Forex market this morning shows that the GBPUSD pair is already on the move ahead of a volatile session and has already reached the light HFT buying pressure zone is located today at 1.3631 and below.
It's likely to be a volatile trading session, potentially with large price swings, as we have the BOE meeting taking place at 12 PM GMT, followed by a press conference from Governor Bailey at 1 PM GMT.
Some traders may prefer to wait and trade only after the BOE event. The HFT zones will provide the potential price zones where a reversal could occur.
To the upside, GBPUSD bears will be looking for short setups toward the light HFT selling pressure zone is located today at 1.3716 and above.
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