GBP/USD may fall 30 - 55 pips

Pivot

1.2980

Our preference

Short positions below 1.2980 with targets at 1.2925 & 1.2900 in extension.

Alternative scenario

Above 1.2980 look for further upside with 1.2995 & 1.3010 as targets.

Comment

As long as 1.2980 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

1.3010

1.2995

1.2980

1.2955 Last

1.2925

1.2900

1.2865

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