GBP/SGD may rise 47 - 68 pips

Our pivot point stands at 1.6892.

Our preference

The upside prevails as long as 1.6892 is support.

Alternative scenario

The downside breakout of 1.6892 would call for 1.6856 and 1.6835.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.6919 and 1.6911).

Supports and resistances

1.7044 **

1.7023 *

1.7002 **

1.6981

1.6934 last

1.6906

1.6892 **

1.6856 *

1.6835 **

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