GBP/USD may rise 25 - 37 pips

1.2599 is our pivot point.

Our preference

Rebound towards 1.2658.

Alternative scenario

The downside breakout of 1.2599 would call for 1.2578 and 1.2566.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.2634 and 1.2663).

Supports and resistances

1.2682 **

1.2670 *

1.2658 **

1.2646

1.2621 last

1.2607

1.2599 **

1.2578 *

1.2566 **

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