GBP/SGD may rise 36 - 52 pips

Our pivot point stands at 1.7181.

Our preference

The upside prevails as long as 1.7181 is support.

Alternative scenario

The downside breakout of 1.7181 would call for 1.7153 and 1.7137.

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 1.7207 and 1.7212). Finally, the GBP/SGD is trading above its upper Bollinger band (standing at 1.7216).

Supports and resistances

1.7302 **

1.7285 *

1.7269 **

1.7253

1.7217 last

1.7191

1.7181 **

1.7153 *

1.7137 **

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