GBP/USD may fall 23 - 48 pips

Pivot

1.2885

Our preference

Short positions below 1.2885 with targets at 1.2835 & 1.2810 in extension.

Alternative scenario

Above 1.2885 look for further upside with 1.2910 & 1.2935 as targets.

Comment

As long as the resistance at 1.2885 is not surpassed, the risk of the break below 1.2835 remains high.

Supports and resistances

1.2935

1.2910

1.2885

1.2858 Last

1.2835

1.2810

1.2790

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