GBP/USD may fall 24 - 54 pips

Pivot

1.3200

Our preference

Short positions below 1.3200 with targets at 1.3140 & 1.3110 in extension.

Alternative scenario

Above 1.3200 look for further upside with 1.3230 & 1.3260 as targets.

Comment

The RSI is bearish and calls for further decline.

Supports and resistances

1.3260

1.3230

1.3200

1.3164 Last

1.3140

1.3110

1.3085

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