GBP/USD may rise 22 - 52 pips

Pivot

1.3020

Our preference

Long positions above 1.3020 with targets at 1.3070 & 1.3100 in extension.

Alternative scenario

Below 1.3020 look for further downside with 1.3000 & 1.2975 as targets.

Comment

A support base at 1.3020 has formed and has allowed for a temporary stabilisation.

Supports and resistances

1.3130

1.3100

1.3070

1.3048 Last

1.3020

1.3000

1.2975

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