The analysis of HFT algorithms in the Forex market today shows that the GBPUSD pair has reached the light HFT selling pressure zone - located at 1.386 and above - and has stopped the bullish move there.
A full-scale bearish signal has not appeared yet, which could come perhaps on a strong move down below the 1.3850 support, which is also a psychological round number level.
The release of the US CPI inflation report later today will certainly fuel some increase in volatility on GBPUSD, and that could prove to be the catalyst for some breakouts.
To the downside, the light HFT buying pressure zone is located today at 1.3806 and below.
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