Daily HFT Trade Setup – EURGBP Rejected at HFT Sell Zone

We are analysing the activity of high-frequency trading algorithms this morning and note that the EURGBP currency pair could offer potential bearish trade setups.

Namely, EURGBP rose earlier in the session and reached the light HFT selling pressure zone that is located today at 0.8595 and above. The bullish attempt was stopped there, and the advance has now paused. EURGBP bears are now waiting for confirmation that a bearish reversal is taking place here. That could come with a more material move below the daily lows, around 0.8575.

Downside potential on EURGBP today is seen toward the light HFT buying pressure zone today is located at 0.8539 and below.