GBP/USD may rise 20 - 40 pips

Intraday: rebound.

Pivot

1.2820

Our preference

Long positions above 1.2820 with targets at 1.2865 & 1.2885 in extension.

Alternative scenario

Below 1.2820 look for further downside with 1.2800 & 1.2780 as targets.

Comment

The RSI calls for a rebound.

Supports and resistances

1.2910

1.2885

1.2865

1.2845 Last

1.2820

1.2800

1.2780

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

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