GBP/USD may fall 13 - 28 pips

Pivot

1.2920

Our preference

Short positions below 1.2920 with targets at 1.2885 & 1.2870 in extension.

Alternative scenario

Above 1.2920 look for further upside with 1.2940 & 1.2955 as targets.

Comment

The RSI is bearish and calls for further decline.

Supports and resistances

1.2955

1.2940

1.2920

1.2898 Last

1.2885

1.2870

1.2850

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