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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.

DateNovember 21, 2020 - 16:25
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.79300, beginning of downtrend is expected.
  • We make sure when the support at 1.70700 breaks.
  • If the resistance at 1.79300 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • While the RSI support #1 at 43 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 1.7932 on 11/11/2020, so more losses to support(s) 1.7605, 1.7430, 1.7190 and minimum to Major Support (1.7070) 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. 1.8080
  3. 1.7930
  4. 1.7605
  5. 1.7430
  6. 1.6895
Click on the level to view price action history.