GBP/USD may fall 31 - 51 pips

Pivot

1.3080

Our preference

Short positions below 1.3080 with targets at 1.3020 & 1.3000 in extension.

Alternative scenario

Above 1.3080 look for further upside with 1.3105 & 1.3130 as targets.

Comment

As long as the resistance at 1.3080 is not surpassed, the risk of the break below 1.3020 remains high.

Supports and resistances

1.3130

1.3105

1.3080

1.3051 Last

1.3020

1.3000

1.2980

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