GBP/SGD may rise 38 - 57 pips

1.7077 is our pivot point.

Our preference

The upside prevails as long as 1.7077 is support.

Alternative scenario

Below 1.7077, expect 1.7045 and 1.7025.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.7103 and 1.7085). Finally, the GBP/SGD has crossed above its upper Bollinger band (1.7127).

Supports and resistances

1.7226 **

1.7206 *

1.7187 **

1.7168

1.7130 last

1.7089

1.7077 **

1.7045 *

1.7025 **

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