GBP/USD may rise 30 - 50 pips

Pivot

1.3050

Our preference

Long positions above 1.3050 with targets at 1.3120 & 1.3140 in extension.

Alternative scenario

Below 1.3050 look for further downside with 1.3030 & 1.3010 as targets.

Comment

The RSI calls for a bounce.

Supports and resistances

1.3160

1.3140

1.3120

1.3090 Last

1.3050

1.3030

1.3010

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