GBP/USD may rise 31 - 46 pips

Pivot

1.2820

Our preference

Long positions above 1.2820 with targets at 1.2885 & 1.2900 in extension.

Alternative scenario

Below 1.2820 look for further downside with 1.2800 & 1.2780 as targets.

Comment

A support base at 1.2820 has formed and has allowed for a temporary stabilisation.

Supports and resistances

1.2920

1.2900

1.2885

1.2854 Last

1.2820

1.2800

1.2780

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