GBP/USD may rise 31 - 51 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

A support base at 1.3010 has formed and has allowed for a temporary stabilisation.

Supports and resistances

1.3090

1.3070

1.3050

1.3019 Last

1.3010

1.2990

1.2970

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