GBP/USD may rise 26 - 46 pips

Pivot

1.3010

Our preference

Long positions above 1.3010 with targets at 1.3050 & 1.3070 in extension.

Alternative scenario

Below 1.3010 look for further downside with 1.2990 & 1.2970 as targets.

Comment

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

Supports and resistances

1.3090

1.3070

1.3050

1.3024 Last

1.3010

1.2990

1.2970

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