GBP/SGD may rise to 1.7379 - 1.7500

Our pivot point stands at 1.6934.

Our preference

The upside prevails as long as 1.6934 is support.

Alternative scenario

Below 1.6934, expect 1.6731 and 1.6611.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.7004 and 1.6996).

Supports and resistances

1.7741 **

1.7620 *

1.7500 **

1.7379

1.7126 last

1.7014

1.6934 **

1.6731 *

1.6611 **

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