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Weekly forecast Great Britain 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.

DateNovember 9, 2019 - 17:59
Currentuptrend
Forecastcontinuation of uptrend
Last weekBearish

Midterm forecast:

  • While the price is above the support 1.7280, continuation of uptrend is expected.
  • We make sure when the resistance at 1.7755 breaks.
  • If the support at 1.7280 is broken, the short-term forecast -continuation of uptrend- will be invalid.

Technical analysis:

  • The ascending flag taking shape suggests we will soon see another leg higher.
  • A peak is formed in daily chart at 1.7695 on 10/17/2019, so more losses minimum to Major Support (1.7280) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 48.