GBP/USD may rise 28 - 41 pips

Our pivot point stands at 1.2894.

Our preference

As long as 1.2894 is support look for 1.2953.

Alternative scenario

The downside breakout of 1.2894 would call for 1.2872 and 1.2859.

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 1.2908 and 1.2879).

Supports and resistances

1.2979 **

1.2966 *

1.2953 **

1.2940

1.2912 last

1.2903

1.2894 **

1.2872 *

1.2859 **

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