GBP/USD may rise 32 - 57 pips

Pivot

1.3175

Our preference

Long positions above 1.3175 with targets at 1.3235 & 1.3260 in extension.

Alternative scenario

Below 1.3175 look for further downside with 1.3150 & 1.3120 as targets.

Comment

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

Supports and resistances

1.3290

1.3260

1.3235

1.3203 Last

1.3175

1.3150

1.3120

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