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Weekly forecast British Pound / Singapore Dollar technical chart
Symbol GBPSGD

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.8650 to 1.8755). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1.8650)
    • Resistance on 01/25/2018
    • Resistance on 02/01/2018
    • Resistance on 02/02/2018
    • Resistance on 02/05/2018
    • Resistance on 02/08/2018
    • Resistance on 03/22/2018
    • Resistance on 03/26/2018
    • Resistance on 04/12/2018
    • Support on 04/16/2018
    • Resistance on 02/24/2021
    • Resistance on 02/25/2021
    • Resistance on 03/08/2021
    • Resistance on 03/09/2021
    • Resistance on 04/05/2021
    • Resistance on 04/06/2021
    • Support on 05/26/2021
    • Trough on 05/27/2021
    • Support on 05/27/2021
    • Support on 06/09/2021
    • Support on 06/10/2021
    • Support on 06/11/2021
    • Support on 06/15/2021
    • Support on 06/16/2021
  • Ending of entry zone (1.8755)
    • Resistance on 04/18/2018
    • Resistance on 02/24/2021
    • Resistance on 03/12/2021
    • Resistance on 03/18/2021
    • Resistance on 05/11/2021
    • Resistance on 05/12/2021
    • Resistance on 05/13/2021
    • Support on 05/17/2021
    • Support on 05/24/2021
    • Resistance on 05/26/2021
    • Resistance on 06/01/2021
    • Resistance on 06/03/2021
    • Resistance on 06/04/2021
    • Resistance on 06/07/2021
    • Resistance on 06/08/2021
    • Resistance on 06/09/2021
    • Resistance on 06/10/2021
    • Resistance on 06/11/2021

DateJune 19, 2021 - 22:18
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.89150, beginning of downtrend is expected.
  • We make sure when the support at 1.82800 breaks.
  • If the resistance at 1.89150 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 1.89145 on 2021-05-21, 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 1.8805 on 05/27/2021, so more losses to support(s) 1.8505, 1.8320 and minimum to Major Support (1.8280) 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 39.

Take Profits:

  1. 1.8505
  2. 1.8320
  3. 1.8080
  4. 1.7955
  5. 1.7855
  6. 1.7720
  7. 1.7545
  8. 1.7310
  9. 1.7070
  10. 1.6515
Click on the level to view price action history.