GBP/USD may rise 39 - 64 pips

Pivot

1.2810

Our preference

Long positions above 1.2810 with targets at 1.2875 & 1.2900 in extension.

Alternative scenario

Below 1.2810 look for further downside with 1.2780 & 1.2750 as targets.

Comment

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

Supports and resistances

1.2930

1.2900

1.2875

1.2836 Last

1.2810

1.2780

1.2750

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