GBP/USD may rise 35 - 51 pips

Our pivot point stands at 1.2702.

Our preference

The upside prevails as long as 1.2702 is support.

Alternative scenario

Below 1.2702, expect 1.2674 and 1.2658.

Comment

The RSI is above its neutrality area at 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 1.2700 and 1.2696). Finally, the GBP/USD has crossed above its upper Bollinger band (1.2730).

Supports and resistances

1.2816 **

1.2799 *

1.2783 **

1.2767

1.2732 last

1.2712

1.2702 **

1.2674 *

1.2658 **

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