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The analysis of high-frequency trading algorithms on GBPUSD this morning shows that the pair has now reached the light HFT buying pressure zone, which is located at 1.3791 and below.
The price is already reacting here. Cable has bounced, and if it gets more confirmation on the intraday charts, this may signal the start of a new bull leg. The FxTR Master MACD indicator plotted below the candle bars shows that this trend indicator has just turned neutral from bearish.
To the topside, the light HFT selling pressure zone today is standing at 1.3849 and above.
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