GBP/USD may rise 43 - 61 pips

1.2835 is our pivot point.

Our preference

The upside prevails as long as 1.2835 is support.

Alternative scenario

The downside breakout of 1.2835 would call for 1.2803 and 1.2785.

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 trading above both its 20 and 50 period moving average (respectively at 1.2853 and 1.2842).

Supports and resistances

1.2958 **

1.2939 *

1.2920 **

1.2902

1.2859 last

1.2847

1.2835 **

1.2803 *

1.2785 **

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