Daily HFT Trade Setup – GBPUSD Bear Candle at HFT Selling Zone

 
 
 
 
 
 
 

The activity of high frequency trading algorithms in the Fx market today shows that the GBPUSD pair could extend the decline following a rejection of the bullish attempt earlier.

Namely, GBPUSD was gradually rising in today's session until it reached the light HFT selling pressure zone that is located at 1.3571 and above. The attempt there was rejected, and a bearish engulfing candle pattern was formed on the 1-hour timeframe (see below).

The 1.3550 round number level stands as the key intraday support now. A break below it will likely clear the road for more downside price action.

The light HFT buying pressure zone is located today at 1.349 and below.

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