GBP/SGD Resistance provides good short on retest
The Pair has broken its upwards sloping trendline and has been moving down since. The next strong Support is met at 1.76136 and next strong resistance is seen at 1.77389.
The Trend is still bearish but shorting right away provides a Risk/Return just below one. An Entry Order below the Resistance, say at around 1.77, will provide an opportunity to enter on short term rebound and stay in the trade all the way down.
The Trend is still bearish but shorting right away provides a Risk/Return just below one. An Entry Order below the Resistance, say at around 1.77, will provide an opportunity to enter on short term rebound and stay in the trade all the way down.
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