GBP/USD may rise 30 - 50 pips

Pivot

1.2720

Our preference

Long positions above 1.2720 with targets at 1.2780 & 1.2800 in extension.

Alternative scenario

Below 1.2720 look for further downside with 1.2700 & 1.2680 as targets.

Comment

The RSI advocates for further advance.

Supports and resistances

1.2820

1.2800

1.2780

1.2750 Last

1.2720

1.2700

1.2680

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