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Our analysis of high frequency Forex trading algorithms this morning shows that the EURGBP pair has spent the past several sessions in a range.
During the current session, EURGBP has been capped to the upside at the 08565 level. The pair is now moving lower and may soon reach the light HFT buying pressure zone that is located for this session at 0.853 and below. Bulls may look to enter buy positions there if they see some confirmation from the price action or technical indicators.
The light HFT selling pressure zone is located today at 0.8581 and above, also representing the topside of this EURGBP range here.
Don't Miss: Stay On Top Of The Game By Reading Our Weekly Forex Forecast Of EUR/USD, GBP/USD, USD/JPY (Fundamentals + Technicals)
