GBP/USD may rise 39 - 57 pips

1.2872 is our pivot point.

Our preference

As long as 1.2872 is support look for 1.2959.

Alternative scenario

Below 1.2872, expect 1.2840 and 1.2822.

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 1.2895 and 1.2875).

Supports and resistances

1.2997 **

1.2978 *

1.2959 **

1.2941

1.2902 last

1.2884

1.2872 **

1.2840 *

1.2822 **

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