GBP/USD may fall 25 - 50 pips

Pivot

1.3065

Our preference

Short positions below 1.3065 with targets at 1.3025 & 1.3000 in extension.

Alternative scenario

Above 1.3065 look for further upside with 1.3090 & 1.3110 as targets.

Comment

The upward potential is likely to be limited by the resistance at 1.3065.

Supports and resistances

1.3110

1.3090

1.3065

1.3050 Last

1.3025

1.3000

1.2980

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