GBP/USD may rise 35 - 60 pips

Intraday: bullish bias above 1.2715.

Pivot

1.2715

Our preference

Long positions above 1.2715 with targets at 1.2775 & 1.2800 in extension.

Alternative scenario

Below 1.2715 look for further downside with 1.2695 & 1.2675 as targets.

Comment

The RSI lacks downward momentum.

Supports and resistances

1.2830

1.2800

1.2775

1.2740 Last

1.2715

1.2695

1.2675

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

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