Daily HFT Trade Setup – EURGBP Rebounds at HFT Zone Ahead of ECB Meeting

The activity of high frequency Fx trading algorithms today shows that the EURGBP pair is showing bullish signs around the light HFT selling pressure zone that is located at 0.8595 and above.

Namely, the price reacted almost as soon as it reached the HFT buy zone and the 1-hour chart shows a bullish engulfing candle as of this moment.

Note that the ECB press conference due in 90 minutes is the big risk event of the day which will most likely cause large price gyrations on the EURGBP pair.

This could prove an opportune time for short-term and momentum traders as the big price moves can provide attractive trade setups.

The light HFT buying pressure zone is located at 0.8568 and below.

Don't Miss: Stay On Top Of The Game By Reading Our Weekly Forex Forecast Of EUR/USD, GBP/USD, USD/JPY (Fundamentals + Technicals)