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Weekly forecast British Pound / Singapore Dollar technical chart
Symbol GBPSGD

Trading suggestion:

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

DateJuly 10, 2022 - 19:57
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 1.73239, resumption of downtrend is expected.
  • We make sure when the support at 1.65150 breaks.
  • If the resistance at 1.73239 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

  • While the RSI resistance #1 at 52 is not broken, the probability of price increase would be too low.
  • A trough is formed in daily chart at 1.66755 on 07/06/2022, so more gains to resistance(s) 1.70720, 1.71440 and maximum to Major Resistance (1.73239) 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.

Supports and Resistances:

  1. 1.85050
  2. 1.83200
  3. 1.80660
  4. 1.78550
  5. 1.76968
  6. 1.75595
  7. 1.71440
  8. 1.65150
Click on the level to view price action history.