Daily HFT Trade Setup – GBPUSD Consolidates Between HFT Sell & Buy Zones
This morning's analysis of Fx high frequency trading algorithms shows that the GBPUSD pair is consolidating on the open of the new week following the steep fall on Thursday and Friday.
GBPUSD hasn't reached either of the nearest daily HFT zones so far and is trading in a tight range between them. The two HFT zones are noted for today's session at the following levels:
- the light HFT selling pressure zone at 1.3524 and above
- the light HFT buying pressure zone at 1.3439 and below
Considering the predominant trend here, the bears are in control and will be looking to establish shorts. For example, GBPUSD rallies into the HFT selling pressure zone today could provide a good opportunity for sellers to join the move.