GBPSGD - Monitoring the Weekly Swing Trade Opportunity
GBPSGD's weekly price action appears cleaner than most of the other pairs I've been watching. Looking at the key levels, it appears that price is gradually recovering from the selloff initiated in mid-July.
The last higher-low bottom out was in mid-October of 2023. The latest higher-low formation and breaks the upper range boundary.
It's also a stronger indication given the moving average confluence; right now, the faster EMA-20 is picking up pacing in its divergence against the EMA-60.
While this isn't a clear indication to bet on the upside just yet, I do think this pair is a strong contender to watch.
The last higher-low bottom out was in mid-October of 2023. The latest higher-low formation and breaks the upper range boundary.
It's also a stronger indication given the moving average confluence; right now, the faster EMA-20 is picking up pacing in its divergence against the EMA-60.
While this isn't a clear indication to bet on the upside just yet, I do think this pair is a strong contender to watch.