GBP/USD may rise 40 - 59 pips

Our pivot point stands at 1.2964.

Our preference

The upside prevails as long as 1.2964 is support.

Alternative scenario

The downside breakout of 1.2964 would call for 1.2932 and 1.2914.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.2972 and 1.2960).

Supports and resistances

1.3088 **

1.3069 *

1.3050 **

1.3031

1.2991 last

1.2976

1.2964 **

1.2932 *

1.2914 **

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