GBP/USD may rise 27 - 39 pips

Our pivot point is at 1.2782.

Our preference

As long as 1.2782 is support look for 1.2840.

Alternative scenario

The downside breakout of 1.2782 would call for 1.2761 and 1.2749.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.2792 and 1.2775).

Supports and resistances

1.2864 **

1.2852 *

1.2840 **

1.2828

1.2801 last

1.2790

1.2782 **

1.2761 *

1.2749 **

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