GBP/USD may rise 48 - 68 pips

Pivot

1.2960

Our preference

Long positions above 1.2960 with targets at 1.3020 & 1.3040 in extension.

Alternative scenario

Below 1.2960 look for further downside with 1.2920 & 1.2900 as targets.

Comment

A support base at 1.2960 has formed and has allowed for a temporary stabilisation.

Supports and resistances

1.3080

1.3040

1.3020

1.2972 Last

1.2960

1.2920

1.2900

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