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Weekly forecast British Pound / Singapore Dollar technical chart
Symbol GBPSGD

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Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateOctober 23, 2019 - 19:25
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • While the price is above the support 1.72800, continuation of uptrend is expected.
  • We make sure when the resistance at 1.77550 breaks.
  • If the support at 1.72800 is broken, the short-term forecast -continuation of uptrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 1.7695 on 10/17/2019, so more losses to support(s) 1.7505 and minimum to Major Support (1.7280) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 64.