GBP/USD may rise 25 - 50 pips

Pivot

1.2775

Our preference

Long positions above 1.2775 with targets at 1.2815 & 1.2840 in extension.

Alternative scenario

Below 1.2775 look for further downside with 1.2750 & 1.2725 as targets.

Comment

The RSI lacks downward momentum.

Supports and resistances

1.2865

1.2840

1.2815

1.2790 Last

1.2775

1.2750

1.2725

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