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The activity of high frequency trading algorithms this morning indicates that the GBPUSD pair may provide trade setups from the bearish side in today's session.
Namely, GBPUSD was gradually rising during the Asian session overnight, but the rally has stalled after reaching the light HFT selling pressure zone is located today at 1.3608 and above.
A high-conviction bearish signal hasn't occurred yet, however. That may happen if the price continues down, particularly below the 1.36 handle, which is nearby. This may trigger a wave of sellers to enter the market and may push the price further down.
The light HFT buying pressure zone, located today at 1.3542 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)
