FX Trading Revolution Team
FX Trading Revolution
Analysis of the trading activity of HFT algorithms on the GBPUSD currency pair this morning shows that potential selling opportunities could exist today.
The pair is currently slowly climbing toward the light HFT selling pressure zone that is noted at 1.3259 and above and is supported by the rising trendline as can be seen on the chart. The light HFT selling pressure zone has not been reached and the rising support trendline has not been broken yet, so a top has still not formed. The FxTR CCI indicator is still showing the trend as bullish while the FxTR Master MACD has now switched to bearish.
A clear bearish break of the rising trendline can be used as a confirmation sign that a reversal has taken place. Currently, the trendline stands at 1.3225.
Alternatively, traders can wait for the light HFT selling pressure zone to be reached and look for reversal signals there.
The light HFT buying pressure zone that is noted at 1.3180 and below can be targeted with short trades.
GBPUSD Current Trading Positions
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