The day trading activity of HFT algorithms in the Forex market shows that the EURGBP pair has reached interesting price levels that could result in a reversal lower.
For instance, EURGBP now moved into the light HFT selling pressure zone that is located at 0.8586 and above. The chances for a bearish reversal are higher here as more sellers are likely to enter the market. The 0.86 round number level that is also in this area will attract additional interest from sellers.
To the downside, the light HFT buying pressure zone is located at 0.8562 and below.
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