GBP/USD may rise 17 - 37 pips

Pivot

1.2905

Our preference

Long positions above 1.2905 with targets at 1.2945 & 1.2965 in extension.

Alternative scenario

Below 1.2905 look for further downside with 1.2880 & 1.2860 as targets.

Comment

A support base at 1.2905 has formed and has allowed for a temporary stabilisation.

Supports and resistances

1.2990

1.2965

1.2945

1.2928 Last

1.2905

1.2880

1.2860

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