GBP/USD may rise 25 - 36 pips

Our pivot point is at 1.2762.

Our preference

Look for a drop towards 1.2762 before a bounce.

Alternative scenario

Below 1.2762, expect 1.2743 and 1.2732.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI should trigger further losses. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.2775 and 1.2775).

Supports and resistances

1.2838 **

1.2827 *

1.2816 **

1.2805

1.2780 last

1.2769

1.2762 **

1.2743 *

1.2732 **

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