GBP/SGD is neutral

Our pivot point stands at 1.6886.

Our preference

Look for a drop towards 1.6886 before a bounce.

Alternative scenario

The downside breakout of 1.6886 would call for 1.6657 and 1.6521.

Comment

The RSI is above 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI would call for further downside. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.7114 and 1.7105).

Supports and resistances

1.7810 **

1.7673 *

1.7537 **

1.7400

1.7118 last

1.6976

1.6886 **

1.6657 *

1.6521 **

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