GBP/USD may rise 25 - 50 pips

Pivot

1.2770

Our preference

Long positions above 1.2770 with targets at 1.2815 & 1.2840 in extension.

Alternative scenario

Below 1.2770 look for further downside with 1.2745 & 1.2730 as targets.

Comment

The break above 1.2770 is a positive signal that has opened a path to 1.2815.

Supports and resistances

1.2860

1.2840

1.2815

1.2790 Last

1.2770

1.2745

1.2730

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