GBP/USD may rise 25 - 50 pips

Pivot

1.2770

Our preference

Long positions above 1.2770 with targets at 1.2810 & 1.2835 in extension.

Alternative scenario

Below 1.2770 look for further downside with 1.2745 & 1.2725 as targets.

Comment

The break above 1.2770 is a positive signal that has opened a path to 1.2810.

Supports and resistances

1.2865

1.2835

1.2810

1.2785 Last

1.2770

1.2745

1.2725

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