GBP/SGD may rise 32 - 44 pips

1.7198 is our pivot point.

Our preference

Our next up target stands at 1.7272.

Alternative scenario

The downside breakout of 1.7198 would call for 1.7179 and 1.7167.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.7224 and 1.7223).

Supports and resistances

1.7295 **

1.7283 *

1.7272 **

1.7260

1.7228 last

1.7206

1.7198 **

1.7179 *

1.7167 **

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