Daily HFT Trade Setup – GBPUSD Bearish Reversal at HFT Sell Zone
Fx HFT algorithms' activity in today's day-trading session shows that the GBPUSD pair may offer bearish trading opportunities.
Namely, GBPUSD was climbing higher since yesterday and this morning reached the light HFT selling pressure zone that is located at 1.2285 and above. Strong bearish pressures emerged here and pushed back on the upside attempt, resulting in the formation of a bearish reversal pattern on the hourly timeframe.
GBPUSD has fallen notably off the daily highs around 1.2320 and is testing an intraday support trendline at 1.2250. A bearish break should open more downside potential, with traders likely focusing on the light HFT buying pressure zone, noted today at 1.2204 and below.
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