A tale of two trade disputes: GBPSGD
Brexit vs US-China trade war
GBPGD is not a pair I often trade, but there is a divergence setting up here which lends itself to further GBPSGD downside on a swing trade.
GBP downside on UK-EU trade concerns
There have been a slew of negative comments from the Bank of England recently. Ireland is warning that the EU won't be rushed on a trade deal.
SGD upside on global trade
If we have the US-China phase 1 trade deal signed then we can expect some more upside for the SGD on a more settled condition for global trade
GBPSGD pair on the daily chart
What would invalidate this outlook?
Either progress for UK-EU trade or a break down in the US-China trade 1 deal this week.