Currency pair GBPSGD fell below the minimum of the spring 2020, closing to 1,65. Here, the “bulls” make another attempt to recoup at least some part of their losses.
The trend reversal signals have formed:
1. The “morning doji star” pattern is in the chart
2. The RSI reaches the oversold zone and turns upward.
In order to make a solid bid for the reversal, it’s necessary to break out of the downtrend and move to the level of 1,7.