Daily HFT Trade Setup – GBPUSD Retraces Into HFT Selling Pressure Zone
We are analyzing the activity of HFT algorithms this morning and note that the GBPUSD pair has reached the light HFT selling pressure zone that is located today at 1.2546 and above.
The move so far comes as a retracement to the predominant downtrend, given the sharp fall in GBPUSD this week. The question for many traders now is if the retracement will end here or if perhaps it continues further higher.
The medium HFT selling pressure zone is located at 1.2704 and above.
To the downside, the light HFT buying pressure zone seems a distant target, but is worth taking note of nonetheless. It is located at 1.2387 and below for today's trading session.
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