GBP/USD may rise 7 - 27 pips

Pivot

1.2720

Our preference

Long positions above 1.2720 with targets at 1.2760 & 1.2780 in extension.

Alternative scenario

Below 1.2720 look for further downside with 1.2705 & 1.2685 as targets.

Comment

The RSI lacks downward momentum.

Supports and resistances

1.2810

1.2780

1.2760

1.2753 Last

1.2720

1.2705

1.2685

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