GBP/SGD may rise 26 - 38 pips

1.7414 is our pivot point.

Our preference

The upside prevails as long as 1.7414 is support.

Alternative scenario

The downside breakout of 1.7414 would call for 1.7393 and 1.7381.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.7428 and 1.7428).

Supports and resistances

1.7512 **

1.7500 *

1.7487 **

1.7475

1.7449 last

1.7422

1.7414 **

1.7393 *

1.7381 **

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