GBP/USD may rise 25 - 50 pips

Pivot

1.2770

Our preference

Long positions above 1.2770 with targets at 1.2805 & 1.2830 in extension.

Alternative scenario

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

Comment

Intraday technical indicators are mixed and call for caution.

Supports and resistances

1.2860

1.2830

1.2805

1.2780 Last

1.2770

1.2750

1.2730

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