GBP/USD may fall 28 - 48 pips

Pivot

1.2920

Our preference

Short positions below 1.2920 with targets at 1.2880 & 1.2860 in extension.

Alternative scenario

Above 1.2920 look for further upside with 1.2935 & 1.2950 as targets.

Comment

The RSI is bearish and calls for further decline.

Supports and resistances

1.2950

1.2935

1.2920

1.2908 Last

1.2880

1.2860

1.2840

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