GBP/USD may rise 30 - 44 pips

Our pivot point is at 1.2898.

Our preference

Look for a drop towards 1.2898 before a bounce.

Alternative scenario

Below 1.2898, expect 1.2874 and 1.2859.

Comment

The RSI is above 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI should trigger further losses. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.2922 and 1.2920).

Supports and resistances

1.2996 **

1.2981 *

1.2966 **

1.2952

1.2922 last

1.2908

1.2898 **

1.2874 *

1.2859 **

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