GBP/USD may rise 37 - 53 pips

Our pivot point stands at 1.2860.

Our preference

Rebound towards 1.2936.

Alternative scenario

The downside breakout of 1.2860 would call for 1.2835 and 1.2819.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands above its 20 period moving average (1.2881) but below its 50 period moving average (1.2892).

Supports and resistances

1.2966 **

1.2951 *

1.2936 **

1.2920

1.2883 last

1.2870

1.2860 **

1.2835 *

1.2819 **

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