GBP/USD may fall 27 - 52 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 1.2885 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

1.2935

1.2910

1.2885

1.2862 Last

1.2835

1.2810

1.2790

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