GBP/USD may rise 40 - 65 pips

Pivot

1.2760

Our preference

Long positions above 1.2760 with targets at 1.2840 & 1.2865 in extension.

Alternative scenario

Below 1.2760 look for further downside with 1.2735 & 1.2705 as targets.

Comment

The RSI calls for a bounce.

Supports and resistances

1.2890

1.2865

1.2840

1.2800 Last

1.2760

1.2735

1.2705

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