GBP/USD may fall 32 - 52 pips

Pivot

1.2980

Our preference

Short positions below 1.2980 with targets at 1.2910 & 1.2890 in extension.

Alternative scenario

Above 1.2980 look for further upside with 1.3000 & 1.3020 as targets.

Comment

The RSI has broken down its 30 level.

Supports and resistances

1.3020

1.3000

1.2980

1.2942 Last

1.2910

1.2890

1.2870

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