GBP/SGD may rise to 1.7391 - 1.7495

Our pivot point stands at 1.7012.

Our preference

As long as 1.7012 is support look for 1.7495.

Alternative scenario

Below 1.7012, expect 1.6838 and 1.6735.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is below its 20 period moving average (1.7180) but above its 50 period moving average (1.7064).

Supports and resistances

1.7702 **

1.7599 *

1.7495 **

1.7391

1.7168 last

1.7081

1.7012 **

1.6838 *

1.6735 **

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