GBP/USD may fall 17 - 37 pips

Pivot

1.3080

Our preference

Short positions below 1.3080 with targets at 1.3040 & 1.3020 in extension.

Alternative scenario

Above 1.3080 look for further upside with 1.3095 & 1.3110 as targets.

Comment

As long as 1.3080 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

1.3110

1.3095

1.3080

1.3057 Last

1.3040

1.3020

1.3000

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