GBP/USD may rise 39 - 57 pips

1.2825 is our pivot point.

Our preference

The upside prevails as long as 1.2825 is support.

Alternative scenario

The downside breakout of 1.2825 would call for 1.2793 and 1.2775.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.2851 and 1.2839).

Supports and resistances

1.2946 **

1.2928 *

1.2909 **

1.2891

1.2852 last

1.2837

1.2825 **

1.2793 *

1.2775 **

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