GBP/USD may fall 28 - 53 pips

Pivot

1.3125

Our preference

Short positions below 1.3125 with targets at 1.3075 & 1.3050 in extension.

Alternative scenario

Above 1.3125 look for further upside with 1.3150 & 1.3170 as targets.

Comment

As long as the resistance at 1.3125 is not surpassed, the risk of the break below 1.3075 remains high.

Supports and resistances

1.3170

1.3150

1.3125

1.3103 Last

1.3075

1.3050

1.3030

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