GBP/USD may fall 38 - 58 pips

Pivot

1.3085

Our preference

Short positions below 1.3085 with targets at 1.3020 & 1.3000 in extension.

Alternative scenario

Above 1.3085 look for further upside with 1.3105 & 1.3130 as targets.

Comment

As long as 1.3085 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

1.3130

1.3105

1.3085

1.3058 Last

1.3020

1.3000

1.2980

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