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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.

DateJanuary 16, 2021 - 21:50
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.82750, beginning of downtrend is expected.
  • We make sure when the support at 1.70700 breaks.
  • If the resistance at 1.82750 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • While the RSI resistance #1 at 62 is not broken, the probability of price increase would be too low.
  • While the RSI uptrend #2 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 1.7655 on 12/18/2020, so more gains maximum to Major Resistance (1.8275) 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 57.

Supports and Resistances:

  1. 1.8275
  2. 1.8020
  3. 1.7605
  4. 1.7430
  5. 1.6895
Click on the level to view price action history.