GBP/USD may rise 16 - 46 pips

Pivot

1.2955

Our preference

Long positions above 1.2955 with targets at 1.3010 & 1.3040 in extension.

Alternative scenario

Below 1.2955 look for further downside with 1.2935 & 1.2915 as targets.

Comment

A support base at 1.2955 has formed and has allowed for a temporary stabilisation.

Supports and resistances

1.3070

1.3040

1.3010

1.2994 Last

1.2955

1.2935

1.2915

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