GBP/USD may rise 27 - 47 pips

Pivot

1.2765

Our preference

Long positions above 1.2765 with targets at 1.2810 & 1.2830 in extension.

Alternative scenario

Below 1.2765 look for further downside with 1.2750 & 1.2735 as targets.

Comment

A support base at 1.2765 has formed and has allowed for a temporary stabilisation.

Supports and resistances

1.2850

1.2830

1.2810

1.2783 Last

1.2765

1.2750

1.2735

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