GBPSGD UPDATE

Tendency: Temporary Downtrend (Bearish)
Structure: Harmonics | BAT
Observation: i. impulse XA leg is observed as price drops to point A.
ii. Point B retraces to 0.5 of XA.
iii. BC retraces 0.618 of AB.
iv. CD is a 1.618 extension of AB.
v. Point D shall complete at a 0.886 retracement of XA completes the pattern.
vi. Moving Averages around the 1.78000 on Higher time frames incites a significant resistance.
Trading Plan: SELL now or SUPPLY zone with a potential TP1 and TP2 (540pips) and SL @ 1.80000/1.82000 zone.
Risk/Reward: 1/2
Potential Duration: 5 to 12 days.

** Please note that Stop Loss is subject to individual risk appetite per trade and account size.

Watch this space for updates as price action is been monitored.

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