GBP/USD may fall 31 - 56 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

Intraday technical indicators are mixed and call for caution.

Supports and resistances

1.3170

1.3150

1.3125

1.3106 Last

1.3075

1.3050

1.3030

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