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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.

DateJuly 10, 2021 - 21:16
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.
  • A trough is formed in daily chart at 1.8520 on 07/02/2021, so more gains maximum to Major Resistance (1.8915) 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 60.

Supports and Resistances:

  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.