GBP/USD may fall 29 - 49 pips

Pivot

1.2975

Our preference

Short positions below 1.2975 with targets at 1.2910 & 1.2890 in extension.

Alternative scenario

Above 1.2975 look for further upside with 1.3000 & 1.3020 as targets.

Comment

The break below 1.2975 is a negative signal that has opened a path to 1.2910.

Supports and resistances

1.3020

1.3000

1.2975

1.2939 Last

1.2910

1.2890

1.2870

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