GBP/SGD may rise 35 - 47 pips

1.7174 is our pivot point.

Our preference

Our next up target stands at 1.7250.

Alternative scenario

The downside breakout of 1.7174 would call for 1.7155 and 1.7143.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.7193 and 1.7198).

Supports and resistances

1.7273 **

1.7261 *

1.7250 **

1.7238

1.7203 last

1.7182

1.7174 **

1.7155 *

1.7143 **

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