GBP/SGD may rise 56 - 75 pips

Our pivot point is at 1.7069.

Our preference

The upside prevails as long as 1.7069 is support.

Alternative scenario

Below 1.7069, expect 1.7036 and 1.7016.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the pair is trading under its 20 period moving average (1.7110) but above its 50 period moving average (1.7096).

Supports and resistances

1.7224 **

1.7204 *

1.7184 **

1.7165

1.7109 last

1.7082

1.7069 **

1.7036 *

1.7016 **

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