GBP/USD may rise 31 - 45 pips

Our pivot point is at 1.2890.

Our preference

Rebound towards 1.2958.

Alternative scenario

The downside breakout of 1.2890 would call for 1.2865 and 1.2850.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.2917 and 1.2930).

Supports and resistances

1.2988 **

1.2973 *

1.2958 **

1.2944

1.2913 last

1.2899

1.2890 **

1.2865 *

1.2850 **

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