GBP/USD may fall 28 - 48 pips

Pivot

1.2935

Our preference

Short positions below 1.2935 with targets at 1.2890 & 1.2870 in extension.

Alternative scenario

Above 1.2935 look for further upside with 1.2965 & 1.2980 as targets.

Comment

As long as 1.2935 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

1.2980

1.2965

1.2935

1.2918 Last

1.2890

1.2870

1.2845

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