GBP/USD may fall 31 - 56 pips

Pivot

1.2910

Our preference

Short positions below 1.2910 with targets at 1.2845 & 1.2820 in extension.

Alternative scenario

Above 1.2910 look for further upside with 1.2925 & 1.2940 as targets.

Comment

As long as 1.2910 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

1.2940

1.2925

1.2910

1.2876 Last

1.2845

1.2820

1.2800

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