GBP/USD may fall 18 - 38 pips

Pivot

1.2925

Our preference

Short positions below 1.2925 with targets at 1.2875 & 1.2855 in extension.

Alternative scenario

Above 1.2925 look for further upside with 1.2945 & 1.2960 as targets.

Comment

The RSI shows downside momentum.

Supports and resistances

1.2960

1.2945

1.2925

1.2893 Last

1.2875

1.2855

1.2835

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