GBP/USD may fall 29 - 54 pips

Pivot

1.2915

Our preference

Short positions below 1.2915 with targets at 1.2875 & 1.2850 in extension.

Alternative scenario

Above 1.2915 look for further upside with 1.2930 & 1.2940 as targets.

Comment

As long as the resistance at 1.2915 is not surpassed, the risk of the break below 1.2875 remains high.

Supports and resistances

1.2940

1.2930

1.2915

1.2904 Last

1.2875

1.2850

1.2830

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