GBP/USD may rise to 1.2890 - 1.2990

Pivot

1.2570

Our preference

Long positions above 1.2570 with targets at 1.2890 & 1.2990 in extension.

Alternative scenario

Below 1.2570 look for further downside with 1.2450 & 1.2300 as targets.

Comment

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

Supports and resistances

1.3140

1.2990

1.2890

1.2649 Last

1.2570

1.2450

1.2300

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