GBP/USD may rise 34 - 51 pips

Our pivot point is at 1.2742.

Our preference

As long as 1.2742 is support look for 1.2819.

Alternative scenario

The downside breakout of 1.2742 would call for 1.2715 and 1.2699.

Comment

The RSI is above 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 1.2768 and 1.2763).

Supports and resistances

1.2851 **

1.2835 *

1.2819 **

1.2802

1.2768 last

1.2753

1.2742 **

1.2715 *

1.2699 **

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