GBP/USD may fall 19 - 39 pips

Pivot

1.2920

Our preference

Short positions below 1.2920 with targets at 1.2870 & 1.2850 in extension.

Alternative scenario

Above 1.2920 look for further upside with 1.2940 & 1.2960 as targets.

Comment

The immediate trend remains down and the momentum is strong.

Supports and resistances

1.2960

1.2940

1.2920

1.2889 Last

1.2870

1.2850

1.2830

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