GBP/USD may rise 39 - 58 pips

1.3004 is our pivot point.

Our preference

As long as 1.3004 is support look for 1.3089.

Alternative scenario

The downside breakout of 1.3004 would call for 1.2972 and 1.2953.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.3019 and 1.3001).

Supports and resistances

1.3126 **

1.3107 *

1.3089 **

1.3070

1.3031 last

1.3016

1.3004 **

1.2972 *

1.2953 **

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