Daily HFT Trade Setup – GBPUSD Trading Between HFT Sell & Buy Zones Ahead of High-Risk Events

 
 
 
 
 
 
 

Today's analysis of high-frequency Fx trading algorithms shows us that the GBPUSD pair is trading in a sideways range in a potentially highly volatile session today.

Namely, GBPUSD remains constrained between the two light HFT zones:

  • the light HFT selling pressure zone, which is located at 1.3920 and above.
  • the light HFT buying pressure zone that is noted at 1.3870 and below.

GBPUSD reached the light HFT sell zone, where the bullish attempt was rejected and the price was forced back into the sideways range. The high-risk events today promise elevated volatility. The first one is the Bank of England meeting due in less than an hour, while tonight we'll get the results of the Scottish Parliamentary election. Both events can take GBPUSD either higher or lower today.

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