GBP/SGD Trading Analysis (08/08/2023)

The currency pair is traded in the range between 365 and 135 EMA, heading down. There is bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the overbought state. The entry point at the pullback B is forming.
 

Trading idea:

Sell at the formation of the descending wave structure, when the A wave breaches the sloping channel of the uptrend structure.

Stop-loss: 1.7180.

Target price levels: 1.7020, 1.6950.

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