GBP/USD may fall 19 - 39 pips

Pivot

1.2885

Our preference

Short positions below 1.2885 with targets at 1.2840 & 1.2820 in extension.

Alternative scenario

Above 1.2885 look for further upside with 1.2910 & 1.2930 as targets.

Comment

As long as 1.2885 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

1.2930

1.2910

1.2885

1.2859 Last

1.2840

1.2820

1.2805

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