GBP/USD may fall 22 - 42 pips

Pivot

1.2995

Our preference

Short positions below 1.2995 with targets at 1.2940 & 1.2920 in extension.

Alternative scenario

Above 1.2995 look for further upside with 1.3020 & 1.3040 as targets.

Comment

Technically the RSI is below its neutrality area at 50.

Supports and resistances

1.3040

1.3020

1.2995

1.2962 Last

1.2940

1.2920

1.2900

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