GBP/USD may rise 34 - 50 pips

1.3175 is our pivot point.

Our preference

As long as 1.3175 is support look for 1.3252.

Alternative scenario

The downside breakout of 1.3175 would call for 1.3148 and 1.3131.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.3199 and 1.3164).

Supports and resistances

1.3285 **

1.3269 *

1.3252 **

1.3236

1.3202 last

1.3186

1.3175 **

1.3148 *

1.3131 **

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