GBP/SGD may rise 25 - 36 pips

Our pivot point stands at 1.7221.

Our preference

Our next up target stands at 1.7287.

Alternative scenario

The downside breakout of 1.7221 would call for 1.7201 and 1.7189.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.7245 and 1.7250).

Supports and resistances

1.7311 **

1.7299 *

1.7287 **

1.7276

1.7251 last

1.7228

1.7221 **

1.7201 *

1.7189 **

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