GBP/USD may rise 17 - 47 pips

Pivot

1.2995

Our preference

Long positions above 1.2995 with targets at 1.3035 & 1.3065 in extension.

Alternative scenario

Below 1.2995 look for further downside with 1.2975 & 1.2955 as targets.

Comment

The RSI lacks downward momentum.

Supports and resistances

1.3100

1.3065

1.3035

1.3018 Last

1.2995

1.2975

1.2955

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