GBP/USD may rise 37 - 53 pips

Our pivot point is at 1.2827.

Our preference

The upside prevails as long as 1.2827 is support.

Alternative scenario

The downside breakout of 1.2827 would call for 1.2801 and 1.2785.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.2842 and 1.2840). Finally, the GBP/USD has crossed above its upper Bollinger band (1.2858).

Supports and resistances

1.2942 **

1.2926 *

1.2911 **

1.2895

1.2858 last

1.2837

1.2827 **

1.2801 *

1.2785 **

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