GBP/USD may fall 21 - 46 pips

Pivot

1.3005

Our preference

Short positions below 1.3005 with targets at 1.2960 & 1.2935 in extension.

Alternative scenario

Above 1.3005 look for further upside with 1.3035 & 1.3060 as targets.

Comment

As long as 1.3005 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

1.3060

1.3035

1.3005

1.2981 Last

1.2960

1.2935

1.2910

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