GBP/USD may rise 24 - 44 pips

Pivot

1.2700

Our preference

Long positions above 1.2700 with targets at 1.2740 & 1.2760 in extension.

Alternative scenario

Below 1.2700 look for further downside with 1.2685 & 1.2665 as targets.

Comment

A support base at 1.2700 has formed and has allowed for a temporary stabilisation.

Supports and resistances

1.2780

1.2760

1.2740

1.2716 Last

1.2700

1.2685

1.2665

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