Daily HFT Trade Setup – GBPUSD Between HFT Buy & Sell Zones Ahead of NFP
We are analyzing the activity of high frequency trading algorithms in the Forex market ahead of the release of US Nonfarm Payrolls and find that the GBPUSD pair is consolidating between the two nearby HFT zones.
GBPUSD sold-off notably yesterday and this trend seems to be taking a pause now as traders prepare for the big news release.
The two HFT zones are located at the following levels for today's session:
- the light HFT buying pressure zone at 1.4057 and below.
- the light HFT selling pressure zone at 1.4173 and above.
Forex traders will be potentially able to reverse trade if the price reaches one of the HFT zones. For example, if the Nonfarm payrolls report is robust, GBPUSD can renew the sell-off .
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