GBP/USD may fall 31 - 51 pips

Pivot

1.3090

Our preference

Short positions below 1.3090 with targets at 1.3040 & 1.3020 in extension.

Alternative scenario

Above 1.3090 look for further upside with 1.3110 & 1.3130 as targets.

Comment

As long as the resistance at 1.3090 is not surpassed, the risk of the break below 1.3040 remains high.

Supports and resistances

1.3130

1.3110

1.3090

1.3071 Last

1.3040

1.3020

1.3000

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