Hello Everyone! the British Pound has reached its daily resistance area that is 1.67488, it looks weak and also the overall trend is bearish on higher timeframes thus we expect it to move to 1.63916 zone in the short term. Long term target is 1.60006
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Find good intraday entry for this medium term play. Bearish bias for the coming weeks. Manage trade responsibly as market conditions may change. Over 400 pips at stake!
This has come to a big monthly supply level that it has rejected from 5 times already. Need to watch closely for a turn lower to short this to the support level that aligns with 0.5 Fibonacci as TP. SL just above the high once price turns lower.
GBPSGD expected to rise up to 1st resistance at 1.74669 where it could potentially react off and drop down to 1st support at 1.70633.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
The price above 200 MA, indicating a growing trend.
The MACD histogram is above the zero lines.
The oscillator Force Index is above the zero lines.
If the level of resistance is broken, you should follow the recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 1.7710
• Take Profit Level: 1.7850 (140 pips)
If the...
GBPSGD bounced off 1.74860 where it could potentially rise further to 1.76483.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
THE FIRST ARROW is for trendline rejection
second arrow if for false breakout of that trendline\\
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GBPSGD is expected to drop to 1st support at 1.72191 where it could potentially react off and up to 1st resistance at 1.73065.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
The price above 200 MA, indicating a growing trend.
The MACD histogram is above the zero lines.
The oscillator Force Index is above the zero lines.
If the level of resistance is broken, you should follow the recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 1.7085
• Take Profit Level: 1.7200 (115 pips)
If the...
A shooting star has formed and prices does not seem to be able to go any higher.
It's still currently in a long term bearish trend and we can expect it to fall further below if the current support is broken.
Trade with care.
