GBP/USD may rise 23 - 53 pips

Pivot

1.2990

Our preference

Long positions above 1.2990 with targets at 1.3050 & 1.3080 in extension.

Alternative scenario

Below 1.2990 look for further downside with 1.2965 & 1.2940 as targets.

Comment

The break above 1.2990 is a positive signal that has opened a path to 1.3050.

Supports and resistances

1.3100

1.3080

1.3050

1.3027 Last

1.2990

1.2965

1.2940

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