GBP/USD may fall 31 - 51 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

The upward potential is likely to be limited by the resistance at 1.2995.

Supports and resistances

1.3040

1.3020

1.2995

1.2971 Last

1.2940

1.2920

1.2900

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