GBP/USD may rise 37 - 67 pips

Pivot

1.2770

Our preference

Long positions above 1.2770 with targets at 1.2830 & 1.2860 in extension.

Alternative scenario

Below 1.2770 look for further downside with 1.2750 & 1.2730 as targets.

Comment

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances

1.2885

1.2860

1.2830

1.2793 Last

1.2770

1.2750

1.2730

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