GBP/USD may fall 40 - 60 pips

Pivot

1.3110

Our preference

Short positions below 1.3110 with targets at 1.3040 & 1.3020 in extension.

Alternative scenario

Above 1.3110 look for further upside with 1.3135 & 1.3155 as targets.

Comment

The RSI is bearish and calls for further downside.

Supports and resistances

1.3155

1.3135

1.3110

1.3080 Last

1.3040

1.3020

1.3000

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