GBP/USD may rise 31 - 46 pips

Our pivot point stands at 1.2780.

Our preference

As long as 1.2780 is support look for 1.2846.

Alternative scenario

Below 1.2780, expect 1.2754 and 1.2738.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.2800 and 1.2758).

Supports and resistances

1.2877 **

1.2862 *

1.2846 **

1.2831

1.2800 last

1.2790

1.2780 **

1.2754 *

1.2738 **

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