GBP/USD may fall 41 - 61 pips

Pivot

1.3130

Our preference

Short positions below 1.3130 with targets at 1.3050 & 1.3030 in extension.

Alternative scenario

Above 1.3130 look for further upside with 1.3150 & 1.3170 as targets.

Comment

As long as 1.3130 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

1.3170

1.3150

1.3130

1.3091 Last

1.3050

1.3030

1.3010

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