GBP/SGD may rise 31 - 44 pips

1.6888 is our pivot point.

Our preference

Rebound towards 1.6962.

Alternative scenario

The downside breakout of 1.6888 would call for 1.6866 and 1.6854.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.6924 and 1.6954).

Supports and resistances

1.6988 **

1.6975 *

1.6962 **

1.6949

1.6918 last

1.6897

1.6888 **

1.6866 *

1.6854 **

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