GBP/SGD may rise 45 - 66 pips

Our pivot point stands at 1.6960.

Our preference

As long as 1.6960 is support look for 1.7073.

Alternative scenario

Below 1.6960, expect 1.6924 and 1.6903.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.6998 and 1.6981). Finally, the GBP/SGD has crossed above its upper Bollinger band (1.7007).

Supports and resistances

1.7116 **

1.7095 *

1.7073 **

1.7052

1.7007 last

1.6974

1.6960 **

1.6924 *

1.6903 **

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