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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.

DateMarch 21, 2021 - 20:06
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.88050, beginning of downtrend is expected.
  • We make sure when the support at 1.82800 breaks.
  • If the resistance at 1.88050 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 1.8757 on 2021-02-24 and the peak at 1.87535 on 2021-03-18, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
  • The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
  • A peak is formed in daily chart at 1.8754 on 03/11/2021, so more losses to support(s) 1.8505 and minimum to Major Support (1.8280) 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 56.

Supports and Resistances:

  1. 1.7955
  2. 1.7720
  3. 1.7545
  4. 1.7310
  5. 1.7070
  6. 1.6515
Click on the level to view price action history.