GBP/SGD may rise to 1.7397 - 1.7478

Our pivot point stands at 1.7078.

Our preference

As long as 1.7078 is support look for 1.7478.

Alternative scenario

Below 1.7078, expect 1.6942 and 1.6862.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.7165 and 1.7048).

Supports and resistances

1.7641 **

1.7560 *

1.7478 **

1.7397

1.7207 last

1.7132

1.7078 **

1.6942 *

1.6862 **

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