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GBPSGD keeps the negativity – Analysis – 18-7-2018
The GBPSGD pair continued to provide negative closings below 1.8190 resistance, attempting to form new negative trades by reaching 1.7832 level, noticing that the moving average 55 forms additional resistance by consolidating at 1.8090 level to increase the negative pressures on the price, to continue suggesting the bearish attempts and increase the chances of breaking 1.7710 support followed by waiting to touch the next negative station at 1.7450.
Stochastic decline below 50 level agrees the bearish overview by providing the negative momentum again, to increase the chances of achieving the negative targets in the near term and medium term period.
Expected trading range for today is between 1.7970 and 1.7710
Expected trend for today: Bearish
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