GBP/SGD may rise 44 - 66 pips

Our pivot point stands at 1.7064.

Our preference

The upside prevails as long as 1.7064 is support.

Alternative scenario

The downside breakout of 1.7064 would call for 1.7027 and 1.7005.

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 1.7100).

Supports and resistances

1.7220 **

1.7198 *

1.7176 **

1.7154

1.7110 last

1.7078

1.7064 **

1.7027 *

1.7005 **

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