GBP/USD may rise 24 - 44 pips

Pivot

1.2705

Our preference

Long positions above 1.2705 with targets at 1.2760 & 1.2780 in extension.

Alternative scenario

Below 1.2705 look for further downside with 1.2685 & 1.2670 as targets.

Comment

A support base at 1.2705 has formed and has allowed for a temporary stabilisation.

Supports and resistances

1.2810

1.2780

1.2760

1.2736 Last

1.2705

1.2685

1.2670

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