Daily HFT Trade Setup – EURGBP Drops into HFT Buying Pressure Zone
Today's analysis of the activity of HFT algorithms shows that the EURGBP sell-off has taken the pair to the light HFT buying pressure zone, which is situated at 0.8471 and below.
At this point, the sell-off looks a little overdone, as is also confirmed by the advanced FxTR overbought/oversold indicator shown on the chart below (under the candle price bars).
However, aside from this, there is no clear bullish reversal signal or price pattern yet. So, the bulls may not show up before they see some more convincing sign that EURGBP is finding a base here.
To the upside, the light HFT selling pressure zone is located today at 0.8496 and above.
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