GBP/SGD may fall 36 - 48 pips

Our pivot point is at 1.7235.

Our preference

Eye 1.7169.

Alternative scenario

Above 1.7235, look for 1.7255 and 1.7266.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the pair is trading under its 20 period moving average (1.7220) but above its 50 period moving average (1.7213).

Supports and resistances

1.7266 **

1.7255 *

1.7235 **

1.7227

1.7217 last

1.7181

1.7169 **

1.7157 *

1.7146 **

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