GBP/USD may rise 27 - 38 pips

Our pivot point is at 1.2774.

Our preference

Our next up target stands at 1.2828.

Alternative scenario

The downside breakout of 1.2774 would call for 1.2756 and 1.2745.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.2781 and 1.2789).

Supports and resistances

1.2850 **

1.2839 *

1.2828 **

1.2817

1.2790 last

1.2782

1.2774 **

1.2756 *

1.2745 **

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