GBP/SGD may fall 72 - 91 pips

Our pivot point is at 1.7123.

Our preference

Technical rebound towards 1.7123 before a new drop.

Alternative scenario

Above 1.7123, look for 1.7155 and 1.7174.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above its 20 period moving average (1.7080) but under its 50 period moving average (1.7099).

Supports and resistances

1.7174 **

1.7155 *

1.7123 **

1.7110

1.7095 last

1.7023

1.7004 **

1.6985 *

1.6966 **

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