GBP/USD may rise 27 - 57 pips

Pivot

1.3172

Our preference

Long positions above 1.3172 with targets at 1.3230 & 1.3260 in extension.

Alternative scenario

Below 1.3172 look for further downside with 1.3150 & 1.3130 as targets.

Comment

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

Supports and resistances

1.3280

1.3260

1.3230

1.3203 Last

1.3172

1.3150

1.3130

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