GBP/USD may rise to 1.3044 - 1.3144

Pivot

1.2600

Our preference

Long positions above 1.2600 with targets at 1.3044 & 1.3144 in extension.

Alternative scenario

Below 1.2600 look for further downside with 1.2440 & 1.2296 as targets.

Comment

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances

1.3300

1.3144

1.3044

1.2699 Last

1.2600

1.2440

1.2296

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