Daily HFT Trade Setup – HFT Algorithms Selling GBPUSD Today
We are analyzing the activity of HFT algorithms this morning and note that the GBPUSD pair could provide trading opportunities from the short side.
Earlier in the session, GBPUSD reached the light HFT selling pressure zone that is located at 1.2316 and above. The bullish attempt was stopped and rejected there. We can see a bearish evening candle pattern has formed on the 1-hour chart in the process. This means there is more downside potential for GBPUSD in today's trading session.
The light HFT buying pressure zone is located today at 1.2236 and below.