GBP/SGD may rise to 1.7413 - 1.7495

Our pivot point is at 1.7101.

Our preference

The upside prevails as long as 1.7101 is support.

Alternative scenario

The downside breakout of 1.7101 would call for 1.6964 and 1.6883.

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 1.7106 and 1.7028).

Supports and resistances

1.7659 **

1.7577 *

1.7495 **

1.7413

1.7226 last

1.7155

1.7101 **

1.6964 *

1.6883 **

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