GBP/USD may fall 24 - 49 pips

Pivot

1.2870

Our preference

Short positions below 1.2870 with targets at 1.2830 & 1.2805 in extension.

Alternative scenario

Above 1.2870 look for further upside with 1.2890 & 1.2910 as targets.

Comment

As long as 1.2870 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

1.2910

1.2890

1.2870

1.2854 Last

1.2830

1.2805

1.2780

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