GBP/USD may rise 26 - 51 pips

Pivot

1.3160

Our preference

Long positions above 1.3160 with targets at 1.3205 & 1.3230 in extension.

Alternative scenario

Below 1.3160 look for further downside with 1.3130 & 1.3100 as targets.

Comment

A support base at 1.3160 has formed and has allowed for a temporary stabilisation.

Supports and resistances

1.3285

1.3230

1.3205

1.3179 Last

1.3160

1.3130

1.3100

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