GBP/USD may rise 31 - 46 pips

1.2849 is our pivot point.

Our preference

The upside prevails as long as 1.2849 is support.

Alternative scenario

The downside breakout of 1.2849 would call for 1.2823 and 1.2808.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.2867 and 1.2862).

Supports and resistances

1.2950 **

1.2935 *

1.2919 **

1.2904

1.2873 last

1.2859

1.2849 **

1.2823 *

1.2808 **

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