(12 JUNE 2019)GBP/USD:Bullish bias above 1.2705.

Pivot (invalidation): 1.2705

Our preference

Long positions above 1.2705 with targets at 1.2735 & 1.2760 in extension.

Alternative scenario

Below 1.2705 look for further downside with 1.2690 & 1.2670 as targets.

Comment

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

limited.

(By Swissquote TRADING CENTRAL)