GBP/USD may fall 43 - 63 pips

Our pivot point is at 1.3096.

Our preference

The downside prevails as long as 1.3096 is resistance.

Alternative scenario

Above 1.3096, look for 1.3131 and 1.3152.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.3080 and 1.3087). Finally, the GBP/USD has penetrated its lower Bollinger band (1.3066).

Supports and resistances

1.3152 **

1.3131 *

1.3096 **

1.3083

1.3065 last

1.3022

1.3002 **

1.2981 *

1.2960 **

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