GBP/USD may rise 39 - 58 pips

Our pivot point is at 1.3062.

Our preference

The upside prevails as long as 1.3062 is support.

Alternative scenario

The downside breakout of 1.3062 would call for 1.3030 and 1.3012.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.3068 and 1.3044).

Supports and resistances

1.3186 **

1.3167 *

1.3149 **

1.3130

1.3091 last

1.3075

1.3062 **

1.3030 *

1.3012 **

Number of asterisks represents the strength of support and resistance levels.