GBP/USD may rise 24 - 35 pips

Our pivot point is at 1.2658.

Our preference

As long as 1.2658 is support look for 1.2712.

Alternative scenario

Below 1.2658, expect 1.2639 and 1.2627.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.2673 and 1.2655).

Supports and resistances

1.2735 **

1.2723 *

1.2712 **

1.2701

1.2677 last

1.2665

1.2658 **

1.2639 *

1.2627 **

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