We are analyzing the activity of HFT algorithms this morning and note that the EURGBP pair is moving up and getting close to the light HFT selling pressure zone that's noted today at 0.8578 and above.
The bullish move in EURGBP today comes as a continuation of yesterday's burst higher following the Bank of England dovish meeting. Still, EURGBP could face some stronger bearish pressures in the HFT selling zone as well as face some technical resistance.
To the downside, the light HFT buying pressure zone is located today at 0.8436 and below.
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