Daily HFT Trade Setup – GBPUSD Touches HFT Sell Area and Falls
We are analyzing the activity of HFT algorithms in the Fx market this morning and note that GBPUSD got quickly rejected at the light HFT selling pressure zone that is noted today at 1.2295 and above.
The price rallied to the HFT zone in early Asia and sharply reversed following a brief touch of the area.
GBPUSD now seems poised to extend the slide in today's session, with traders looking at the previous lows as the key technical zone. This area is also where the light HFT buying pressure zone is located today, which is at 1.2189 and below.