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The activity of HFT algorithms in the Forex market this morning shows that the GBPUSD pair is already on the move ahead of a volatile session and has already reached the light HFT buying pressure zone is located today at 1.3631 and below.
It's likely to be a volatile trading session, potentially with large price swings, as we have the BOE meeting taking place at 12 PM GMT, followed by a press conference from Governor Bailey at 1 PM GMT.
Some traders may prefer to wait and trade only after the BOE event. The HFT zones will provide the potential price zones where a reversal could occur.
To the upside, GBPUSD bears will be looking for short setups toward the light HFT selling pressure zone is located today at 1.3716 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)
