The GBP / USD rebounds in the HFT buying zones and joins the light HFT selling zone!
We analyze the Fx high frequency trading algorithms and note that the GBPUSD currency pair was very active this Tuesday morning in Europe.
Earlier in the session overnight, the pair went down and tested the light HFT buying pressure area – rated at 1.2184 and below. The bearish attempt was quickly dismissed here, and the GBPUSD rebounded strongly.
The price is now pushing through the slight upward HFT selling pressure area, which is noted at 1.2302 and above.. Although this means that more sellers are likely to enter the market now, the high volatility of today’s session suggests that it is possible that the GBPUSD is recording larger trading ranges. Read more…
GBP / USD: Five reasons to put the pound in the ICU
GBP / USD advanced against the backdrop of a weak dollar, against the backdrop of concern for PM Johnson. According to Yohay Elam, an analyst at FXStreet, various aspects of the leadership crisis could once again cause the pound to fall.
“The most recent reports suggest that Johnson is receiving oxygen but is not on a ventilator. Fortunately, Tuesday’s news is more reliable than Monday’s. However, intensive care is quite worrying. “
“Any other leader would have less weight and would need to gain the trust of other ministers and officials while the country and the world fight against the coronavirus crisis. “
“Unlike many countries on the continent, the UK peak could still be ahead. ” Read more…
GBP / USD continues strong intraday recovery and refreshes session highs mid-1.2300
The selling bias around the greenback has accelerated in the past hour and has taken the GBP / USD pair to new session highs, towards the middle of 1.2300.
After a start of autumn at lows of a week and a half, the pair experienced a dramatic reversal and rallied close to 200 pips from an intraday level of 1.2164 amid long term heavy trade in the US dollar.
The latest optimism about a slowdown in the number of new coronavirus cases in the United States, Italy and Spain has led to some recovery in the stock markets for the second consecutive session.
Risk mood ultimately weighed heavily on the greenback’s safe haven status and was considered one of the key factors that pushed the pair up during the first European session on Tuesday.
As investors uncovered signs of a spike in the coronavirus pandemic, GBP bulls did not appear to be affected by the fact that British Prime Minister Boris Johnson was transferred to intensive care overnight.
Meanwhile, UK Cabinet Minister Michael Gove came out with a few comments over the past hour and said any decisions on lifting the lockdown, containment measures could be a little too early for the UK can take it into account. Read more…