GBP/USD may rise 44 - 65 pips

Our pivot point stands at 1.2984.

Our preference

The upside prevails as long as 1.2984 is support.

Alternative scenario

The downside breakout of 1.2984 would call for 1.2949 and 1.2928.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.3007 and 1.2995).

Supports and resistances

1.3119 **

1.3098 *

1.3077 **

1.3056

1.3012 last

1.2998

1.2984 **

1.2949 *

1.2928 **

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