GBP/USD may rise 19 - 39 pips

Pivot

1.3045

Our preference

Long positions above 1.3045 with targets at 1.3085 & 1.3105 in extension.

Alternative scenario

Below 1.3045 look for further downside with 1.3020 & 1.3000 as targets.

Comment

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

Supports and resistances

1.3130

1.3105

1.3085

1.3066 Last

1.3045

1.3020

1.3000

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