GBP/USD may rise 26 - 38 pips

1.2651 is our pivot point.

Our preference

The upside prevails as long as 1.2651 is support.

Alternative scenario

The downside breakout of 1.2651 would call for 1.2631 and 1.2619.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.2657 and 1.2646).

Supports and resistances

1.2729 **

1.2717 *

1.2705 **

1.2693

1.2667 last

1.2659

1.2651 **

1.2631 *

1.2619 **

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