GBP/SGD may rise 26 - 39 pips

Our pivot point stands at 1.7259.

Our preference

The upside prevails as long as 1.7259 is support.

Alternative scenario

The downside breakout of 1.7259 would call for 1.7238 and 1.7225.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.7276 and 1.7272). Finally, the GBP/SGD has crossed above its upper Bollinger band (1.7288).

Supports and resistances

1.7361 **

1.7348 *

1.7335 **

1.7322

1.7296 last

1.7268

1.7259 **

1.7238 *

1.7225 **

Number of asterisks represents the strength of support and resistance levels.