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The analysis of high frequency trading algorithms' activity this morning shows that the GBPUSD pair may provide attractive trade setups from the long side.
For instance, GBPUSD is correcting lower today after the big surge yesterday. The price is now coming near to the the light HFT buying pressure zone that is located at 1.3545 and below. If it reaches this area, bullish pressures are likely to increase. There are also the prior lows here at this 1.3540 zone.
To the topside, the light HFT selling pressure zone is noted today at 1.3635 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)
