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We are analyzing Fx high frequency trading algorithms and note that the GBPUSD pair has rebounded from under the 1.30 mark this morning.
The bounce comes after GBPUSD briefly reached and traded into the light HFT buying pressure zone is located at 1.2977 and below. This could well be the low of the day for cable and the eager bulls may take the rebound a little further to the upside.
The light HFT selling pressure zone would likely come into focus in this case. It is located at 1.3038 and above for today's trading session.
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