GBP/USD may rise 23 - 43 pips

Pivot

1.2680

Our preference

Long positions above 1.2680 with targets at 1.2715 & 1.2735 in extension.

Alternative scenario

Below 1.2680 look for further downside with 1.2655 & 1.2635 as targets.

Comment

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

Supports and resistances

1.2750

1.2735

1.2715

1.2692 Last

1.2680

1.2655

1.2635

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