GBP/USD may rise 40 - 59 pips

Our pivot point is at 1.3295.

Our preference

The upside prevails as long as 1.3295 is support.

Alternative scenario

The downside breakout of 1.3295 would call for 1.3262 and 1.3242.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.3307 and 1.3298).

Supports and resistances

1.3420 **

1.3400 *

1.3380 **

1.3361

1.3321 last

1.3308

1.3295 **

1.3262 *

1.3242 **

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