GBP/USD may rise 16 - 31 pips

Pivot

1.2905

Our preference

Long positions above 1.2905 with targets at 1.2945 & 1.2960 in extension.

Alternative scenario

Below 1.2905 look for further downside with 1.2890 & 1.2875 as targets.

Comment

The RSI calls for a rebound.

Supports and resistances

1.2980

1.2960

1.2945

1.2929 Last

1.2905

1.2890

1.2875

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