GBP/USD may fall 12 - 32 pips

Pivot

1.2995

Our preference

Short positions below 1.2995 with targets at 1.2960 & 1.2940 in extension.

Alternative scenario

Above 1.2995 look for further upside with 1.3015 & 1.3035 as targets.

Comment

A break below 1.2960 would trigger a drop towards 1.2940.

Supports and resistances

1.3035

1.3015

1.2995

1.2972 Last

1.2960

1.2940

1.2920

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