GBP/USD may fall 41 - 60 pips

Our pivot point is at 1.3203.

Our preference

The downside prevails as long as 1.3203 is resistance.

Alternative scenario

The upside breakout of 1.3203, would call for 1.3234 and 1.3253.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.3177 and 1.3175).

Supports and resistances

1.3253 **

1.3234 *

1.3203 **

1.3190

1.3161 last

1.3120

1.3101 **

1.3083 *

1.3064 **

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