GBP/USD may rise 62 - 127 pips
Pivot
1.2040
Our preference
Long positions above 1.2040 with targets at 1.2235 & 1.2300 in extension.
Alternative scenario
Below 1.2040 look for further downside with 1.1990 & 1.1930 as targets.
Comment
The RSI shows upside momentum.
