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We are analyzing the activity of high frequency trading algorithms today and note that the GBPUSD Fx pair has reached the light HFT buying pressure zone that is located at 1.4077 and below.
The HFT buy zone is a potential reversal zone on an intraday basis as more buyers are likely to enter the market, potentially causing a bounce and a reversal.
The two previous intraday lows near the current levels of around 1.4070 are also adding technical buying pressure as a support zone here.
The bulls will be looking up toward the light HFT selling pressure zone today, which is located at 1.4131 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)
