GBP/USD may rise 20 - 40 pips

Pivot

1.2675

Our preference

Long positions above 1.2675 with targets at 1.2725 & 1.2745 in extension.

Alternative scenario

Below 1.2675 look for further downside with 1.2655 & 1.2635 as targets.

Comment

The RSI calls for a bounce.

Supports and resistances

1.2765

1.2745

1.2725

1.2705 Last

1.2675

1.2655

1.2635

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