GBP/USD may fall 26 - 51 pips

Pivot

1.2995

Our preference

Short positions below 1.2995 with targets at 1.2945 & 1.2920 in extension.

Alternative scenario

Above 1.2995 look for further upside with 1.3010 & 1.3030 as targets.

Comment

The RSI is bearish and calls for further decline.

Supports and resistances

1.3030

1.3010

1.2995

1.2971 Last

1.2945

1.2920

1.2875

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