GBP/USD may rise 46 - 68 pips

Our pivot point is at 1.2944.

Our preference

As long as 1.2944 is support look for 1.3043.

Alternative scenario

The downside breakout of 1.2944 would call for 1.2906 and 1.2884.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.2970 and 1.2948).

Supports and resistances

1.3087 **

1.3065 *

1.3043 **

1.3021

1.2975 last

1.2958

1.2944 **

1.2906 *

1.2884 **

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