GBP/USD may fall 44 - 74 pips

Pivot

1.3110

Our preference

Short positions below 1.3110 with targets at 1.3050 & 1.3020 in extension.

Alternative scenario

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

Comment

As long as 1.3110 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

1.3155

1.3135

1.3110

1.3094 Last

1.3050

1.3020

1.3000

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