GBP SGD

GBPSGD Currency pair flag

Latest GBP SGD Analysis and Forecasts

Spotlight on Pound Crosses (GBPSGD and GBPCHF)

  • Given ongoing concerns regarding a “no deal” Brexit or a snap UK General Election, the Pound (GBP) continues to slide lower against many major currencies, not just against the US Dollar (the much-watched Cable Forex Rate, GBPUSD).
  • These concerns have been heightened by the resignation of Prime Minister Theresa May and a leadership contest for the Conservative party, which has increased uncertainty.
  • Here we spotlight the intermediate-term risks into June for The Pound versus T
  • the Singapore Dollar and against the Swiss Franc, GBPSGD and GBPCHF.

GBPSGD

A selloff throughout May down from 1.2961 through 1.7549 set an intermediate-term bear trend, reinforced more recently by the probe below the February 2019 swing low at 1.7352.

This leaves the irks lower for both early June and potentially through the month ahead.

Intermediate-term Outlook – Downside Risks: We see a downside risk for .17171.

  • Lower targets would be 1.7016/00, 1.6674 and possibly 1.6232
  • What Changes This? Above 1.7555 shifts the outlook back to neutral; above 1.7635 is needed for a bull theme.

Daily GBPSGD Chart

gbpsgd chart

GBPCHF

Nearly a one way plunge lower throughout May, breaking out from a multi-month Triangle type pattern, or even confirming an intermediate-term Double Top below 1.2915, with losses right into the end of May keeping risks lower for early June at least, likely beyond.

Intermediate-term Outlook – Downside Risks: We see a downside risk for 1.2529.

  • Lower targets would be 1.2419, 1.2305 and maybe toward 1.2000
  • What Changes This? Above 1.2796 shifts the outlook back to neutral; above 1/2936 is needed for a bull theme.

Daily GBPCHF Chart

gbpchf chart

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Other major currency pairs


BUY - rate is expected to increase, i.e. the first currency gains value against the second currency.
SELL - rate is expected to go down, i.e. the first currency is expected to lose value against the second currency.


GBP/SGD – Live and Historical Rates

The GBP/SGD is another pairing of a major currency with a non-major one. The resulting pair isn’t a major, nor is it a commodity pair. The chart above shows the amount of SGD it takes to purchase a GBP.

The GBP

The British pound had been locked in a sort of struggle for its very existence for years with the EUR. An EU member, Britain had often contemplated joining the common currency, and with it, the world’s largest economy, the Eurozone. The 2008 financial crisis put an end to that though and the 2016 Brexit referendum put the final nail in the coffin of the British Euro. The world’s 4th most traded currency, and the oldest one still in circulation today, the GBP will be around for many more decades to come. Supported by the massive size of the British economy, the GBP has seen some inflation lately, but it is still the strongest currency in the world value-wise.

The SGD

The Singapore Dollar was introduced in 1965, when the country gained its independence from Malaysia. During its early years, the SGD was pegged to the GBP as well as to the USD. Nowadays, it is pegged to a basket of currencies which apparently aren’t clearly identified. The authority behind the SGD is the Monetary Authority of Singapore. Thanks to the MAS’s sound monetary policies and the international collateralization, the SGD has been on a tear since 1981, rising against the USD and other currencies.

GBPSGD Analysis

Although they’re located in economically disparate areas of the globe, the ties between the UK and Singapore are surprisingly strong in a financial sense, and that is well reflected in the significance of the GBP/SGD pair. Although very small size-wise, Singapore has exercised a disproportionately large financial influence in its economic area. Depending on GBP value-trends, the pair may prove valuable as a carry trade vehicle at times.

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