GBP/USD may fall 20 - 40 pips

Pivot

1.3075

Our preference

Short positions below 1.3075 with targets at 1.3040 & 1.3020 in extension.

Alternative scenario

Above 1.3075 look for further upside with 1.3095 & 1.3110 as targets.

Comment

The upward potential is likely to be limited by the resistance at 1.3075.

Supports and resistances

1.3110

1.3095

1.3075

1.3060 Last

1.3040

1.3020

1.3000

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