GBP/USD may rise 26 - 46 pips

Pivot

1.2945

Our preference

Long positions above 1.2945 with targets at 1.2990 & 1.3010 in extension.

Alternative scenario

Below 1.2945 look for further downside with 1.2925 & 1.2905 as targets.

Comment

A support base at 1.2945 has formed and has allowed for a temporary stabilisation.

Supports and resistances

1.3030

1.3010

1.2990

1.2964 Last

1.2945

1.2925

1.2905

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