Daily HFT Trade Setup – GBPUSD Rejected at HFT Sell Zone
Today’s analysis of Fx HFT algorithms’ activity shows that GBPUSD has already reached and got rejected at the light HFT selling pressure zone that is noted at 1.2628 and above. Traders will now be looking for the signs if this is the day’s top and whether more downside action will follow.
The rejection and decline has taken GBPUSD to test the 1.26 level, now acting as support. It is bouncing here on the initial touch, but a break below 1.26 could be the signal that many bears are looking to enter fresh short positions.
To the downside, the light HFT buying pressure zone is noted at 1.2559 and below.
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