GBP/USD may fall 47 - 68 pips

1.3104 is our pivot point.

Our preference

The downside prevails as long as 1.3104 is resistance.

Alternative scenario

Above 1.3104, look for 1.3139 and 1.3160.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.3082 and 1.3090).

Supports and resistances

1.3160 **

1.3139 *

1.3104 **

1.3091

1.3075 last

1.3028

1.3007 **

1.2986 *

1.2965 **

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