GBP/USD may rise 36 - 66 pips

Pivot

1.2900

Our preference

Long positions above 1.2900 with targets at 1.2950 & 1.2980 in extension.

Alternative scenario

Below 1.2900 look for further downside with 1.2875 & 1.2850 as targets.

Comment

A support base at 1.2900 has formed and has allowed for a temporary stabilisation.

Supports and resistances

1.3010

1.2980

1.2950

1.2914 Last

1.2900

1.2875

1.2850

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