GBP/USD may rise 42 - 63 pips

1.3025 is our pivot point.

Our preference

Rebound towards 1.3118.

Alternative scenario

The downside breakout of 1.3025 would call for 1.2990 and 1.2969.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.3057 and 1.3066).

Supports and resistances

1.3159 **

1.3139 *

1.3118 **

1.3097

1.3055 last

1.3038

1.3025 **

1.2990 *

1.2969 **

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