GBP/USD may rise 30 - 55 pips

Pivot

1.3105

Our preference

Long positions above 1.3105 with targets at 1.3160 & 1.3185 in extension.

Alternative scenario

Below 1.3105 look for further downside with 1.3080 & 1.3055 as targets.

Comment

A support base at 1.3105 has formed and has allowed for a temporary stabilisation.

Supports and resistances

1.3210

1.3185

1.3160

1.3130 Last

1.3105

1.3080

1.3055

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