Daily HFT Trade Setup – EURGBP Reaches HFT Buying Zone
We are analyzing the activity of high-frequency trading Forex algorithms this morning and find that the EURGBP pair has already reached the light HFT buying pressure zone that is located today at 0.8591 and below.
There was a relatively strong initial reaction when EURGBP reached the HFT buy zone, but no bullish reversal signs appear as of yet. Traders may look at technical indicators to confirm such a narrative. For example, shown on the chart below is the FxTR advanced overbought/oversold indicator, which shows EURGBP is in the oversold territory on the hourly chart at these price levels.
The light HFT selling pressure zone is located today at 0.864 and above.