GBP/USD may rise 20 - 40 pips

Pivot

1.2920

Our preference

Long positions above 1.2920 with targets at 1.2980 & 1.3000 in extension.

Alternative scenario

Below 1.2920 look for further downside with 1.2895 & 1.2865 as targets.

Comment

The RSI is bullish and calls for further upside.

Supports and resistances

1.3030

1.3000

1.2980

1.2960 Last

1.2920

1.2895

1.2865

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