Daily HFT Trade Setup – GBP Enters HFT Buying Zone
We are analyzing the activity of HFT algorithms this Monday morning and note that the GBPUSD current pair has reached price levels that could potentially provide bullish reversal setups.
Namely, GBPUSD is falling for most of the current day session and is now entering the light HFT buying pressure zone that is noted at 1.3198 and below. However, the trend on the hourly chart is down, and for the time being, there are no bullish signs at the HFT zone yet.
Fx traders may watch the price action for potential candlestick patterns or trend indicators like the MACD to gauge the state of the trend and any potential reversal signals here.
To the upside, the light HFT selling pressure zone is located today at 1.3306 and above.