GBP/USD may fall 36 - 51 pips

Pivot

1.2850

Our preference

Short positions below 1.2850 with targets at 1.2805 & 1.2790 in extension.

Alternative scenario

Above 1.2850 look for further upside with 1.2875 & 1.2885 as targets.

Comment

As long as 1.2850 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

1.2885

1.2875

1.2850

1.2841 Last

1.2805

1.2790

1.2775

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