We are currently at a 33 month low for the GBP/SGD currency pair on the W1 timeframe. Price is at a strong support level at this point.
What others are predicting
We see multiple different traders’ analysis predicting:
– The price is near 33-Months Low 1.66716.
– Weekly candle made a fake breakout of this level and it’s a huge pisibility to close above.
– If GBPSGD will bounce from this Low we will have great trade with sweet risk/reward correlation.
Take profit in 3…5 times bigger than stop loss
Jul 9
Comment: Take profit in 3…5 times bigger than stop loss
Here are my thoughts!
Price has re-entered the RSI 30 line
Price has reached a major support level on the W1 and D1 timeframes.
Our target range for the long position is: 1.7015 – 1.7465
Cheers to another successful week!