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The activity of HFT algorithms in the Forex market indicates that potential bearish trading opportunities could exist on the GBPUSD currency pair today.
Namely, GBPUSD has rallied this morning in line with the broader USD correction and has now reached the light HFT selling pressure zone that is located at 1.2034 and above. The bullish attempt is getting rejected here, though a clear and fully convincing bearish signal has not occurred here yet.
To the downside, the bears will be aiming for the light HFT buying pressure zone, which is located at 1.1863 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)
