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HFT algorithms' activity today shows that the GBPUSD pair may have potential for another rebound in what is likely to be another volatile trading session with the Bank of England meeting taking place in two hours.
Day traders can watch the light HFT zones for trade setups, both from the bullish and bearish sides. However, GBPUSD is now trading close to the light HFT buy zone, which suggests that a bullish setup is slightly more likely.
The light HFT buying pressure zone is located at 1.2504 and below.
To the upside, the light HFT selling pressure zone is standing at 1.2691 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)
