GBP/USD may rise 46 - 66 pips

Our pivot point stands at 1.3172.

Our preference

As long as 1.3172 is support look for 1.3271.

Alternative scenario

Below 1.3172, expect 1.3139 and 1.3120.

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 pair is trading under its 20 period moving average (1.3214) but above its 50 period moving average (1.3184).

Supports and resistances

1.3310 **

1.3291 *

1.3271 **

1.3251

1.3205 last

1.3185

1.3172 **

1.3139 *

1.3120 **

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