GBP/USD: Retraced Close to Light HFT Buying Pressure Zone

 | May 03, 2017 05:54AM ET

Currency pair GBP/USD retraced yesterday very close to the light HFT buying pressure zone that was noted at 1.2862 and below. More than 75 pips bullish move followed and GBP/USD reached the light HFT selling pressure zone that was noted at 1.2923 and above. GBPUSD was bouncing several times after reaching the light HFT selling pressure zone. Finally, GBP/USD closed yesterday’s trading day within the light HFT selling pressure zone.