GBP/USD may rise 23 - 43 pips

Pivot

1.2860

Our preference

Long positions above 1.2860 with targets at 1.2895 & 1.2915 in extension.

Alternative scenario

Below 1.2860 look for further downside with 1.2845 & 1.2830 as targets.

Comment

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances

1.2935

1.2915

1.2895

1.2872 Last

1.2860

1.2845

1.2830

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