GBP/USD may rise 33 - 48 pips

Pivot

1.2650

Our preference

Long positions above 1.2650 with targets at 1.2705 & 1.2720 in extension.

Alternative scenario

Below 1.2650 look for further downside with 1.2635 & 1.2615 as targets.

Comment

The break above the resistance at 1.2650 triggered an upward acceleration to 1.2705.

Supports and resistances

1.2735

1.2720

1.2705

1.2672 Last

1.2650

1.2635

1.2615

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