GBP/SGD may fall to 1.6446 - 1.6593

Our pivot point stands at 1.7148.

Our preference

The downside prevails as long as 1.7148 is resistance.

Alternative scenario

The upside breakout of 1.7148, would call for 1.7397 and 1.7544.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.7187 and 1.7189).

Supports and resistances

1.7544 **

1.7397 *

1.7148 **

1.7051

1.6929 last

1.6593

1.6446 **

1.6299 *

1.6152 **

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