GBP/USD may rise 24 - 39 pips

Pivot

1.3040

Our preference

Long positions above 1.3040 with targets at 1.3080 & 1.3095 in extension.

Alternative scenario

Below 1.3040 look for further downside with 1.3025 & 1.3010 as targets.

Comment

A support base at 1.3040 has formed and has allowed for a temporary stabilisation.

Supports and resistances

1.3110

1.3095

1.3080

1.3056 Last

1.3040

1.3025

1.3010

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