(22 JANUARY 2019)GBP/USD:Bullish bias above 1.2860.

Pivot (invalidation): 1.2860

Our preference

Long positions above 1.2860 with targets at 1.2900 & 1.2925 in extension.

Alternative scenario

Below 1.2860 look for further downside with 1.2830 & 1.2800 as targets.

Comment

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

limited

(By Swissquote TRADING CENTRAL)