GBP/USD may rise 23 - 48 pips

Pivot

1.2905

Our preference

Long positions above 1.2905 with targets at 1.2965 & 1.2990 in extension.

Alternative scenario

Below 1.2905 look for further downside with 1.2880 & 1.2855 as targets.

Comment

The RSI lacks downward momentum.

Supports and resistances

1.3015

1.2990

1.2965

1.2942 Last

1.2905

1.2880

1.2855

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