Daily HFT Trade Setup – GBPJPY Stops Advance at HFT Sell Zone Ahead of BOE Meeting
We are analyzing the activity of Fx HFT trading algorithms this morning and note that volatility has been expanding on the GBPJPY pair ahead of the Bank of England meeting and rate decision later today.
GBPJPY reached the light HFT selling pressure zone earlier in the morning, which is located for today's session at 152.53 and above.
The bullish attempt was stopped there and GBPJPY is now trading sideways in a tight range. The key risk event today is the BOE meeting at 1:00 pm CET. Higher volatility around the time of release seems very likely.
The light HFT buying pressure zone is found today at 151.53 and below.
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