GBP/USD may rise 23 - 43 pips

Pivot

1.2940

Our preference

Long positions above 1.2940 with targets at 1.2995 & 1.3015 in extension.

Alternative scenario

Below 1.2940 look for further downside with 1.2920 & 1.2900 as targets.

Comment

A support base at 1.2940 has formed and has allowed for a temporary stabilisation.

Supports and resistances

1.3030

1.3015

1.2995

1.2972 Last

1.2940

1.2920

1.2900

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