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

As long as the resistance at 1.2995 is not surpassed, the risk of the break below 1.2960 remains high.

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.