Daily HFT Trade Setup – EURGBP Stops at HFT Sell Zone

We are analyzing the activity of high frequency trading algos shows that the EURGBP currency pair may offer an opportunity to go short.

EURGBP this morning reached the light HFT selling pressure zone, which is located at 0.8651 and above. The bears may have already gotten some of the signals they are looking for, namely an initial rejection of the bullish attempt here. Additionally, the advanced FxTR Divergence indicator shows that EURGBP at these levels is into overbought territory on the hourly timeframe (see chart).

The light HFT buying pressure zone is standing today at 0.8619 and below.

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