Daily HFT Trade Setup – EURGBP Fails to Push Through HFT Buy Zone

Today's analysis of the activity of HFT algorithms on the EURGBP currency pair shows that EURGBP is bouncing at the light HFT buying pressure zone that is noted at 0.8630 and below.

While this may not be instantly a reversal signal, the fact that EURGBP has been in a consolidation recently may mean that the sideways action is not over. Essentially, with the bounce, EURGBP is now back inside the range.

To the upside, the bulls may look for the pair to reach levels toward the light HFT selling pressure zone that is located today at 0.8658 and above. 

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