GBP/USD may rise 22 - 42 pips

Pivot

1.2640

Our preference

Long positions above 1.2640 with targets at 1.2680 & 1.2700 in extension.

Alternative scenario

Below 1.2640 look for further downside with 1.2620 & 1.2600 as targets.

Comment

The break above 1.2640 is a positive signal that has opened a path to 1.2680.

Supports and resistances

1.2735

1.2700

1.2680

1.2658 Last

1.2640

1.2620

1.2600

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