Daily HFT Trade Setup – EURGBP Testing HFT Buy Zone
The activity of high-frequency trading algorithms this morning shows that the EURGBP pair may provide attractive bullish trade setups.
Just this hour, EURGBP reached the light HFT buying pressure zone that is noted at 0.8568 and below. The price reacted well thus far, bouncing at the HFT buy zone with potential for stabilization.
EURGBP is also reaching oversold levels here, as shown by the FxTR overbought/oversold indicator (plotted under the candle price chart).
Fx traders will potentially look for upside moves to extend toward the light HFT selling pressure zone that is found at 0.8615 and above.