Daily HFT Trade Setup – EURGBP Bearish Attempt Pauses at HFT Buy Zone
Today's activity of Forex HFT algorithms shows that the EURGBP could provide attractive reversal setups from the long side.
EURGBP has been declining for most of the current day session so far (during Asia and early Europe) and reached the light HFT buying pressure zone that is located at 0.8409 and below.
The bearish attempt was stopped there, and a small bounce had already transpired. However, the bulls will likely need more convincing signals to enter the market here.
Also helping the bulls here is the advanced FxTR overbought/oversold indicator being in the overbought zone on the hourly chart.
The light HFT selling pressure zone is located at 0.8445 and above.
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