Daily HFT Trade Setup – EURGBP Hammer at HFT Buying Zone
High frequency trading algorithms' activity this morning shows that the EURGBP pair is showing some bullish signs and may provide opportunities to go long.
Namely, EURGBP reached the light HFT buying pressure zone, which is located today at 0.837 and below. The downside attempt was stopped here, and a bullish hammer pattern formed (hourly timeframe). This is the first sign the day's low may be in, and can be used to establish long positions.
To the upside, Fx traders will watch the light HFT selling pressure zone that is located at 0.842 and above.
Don't Miss: Stay on top of the game by reading our Weekly Forex Forecast of EUR/USD, GBP/USD, USD/JPY (Fundamentals + Technicals)