GBP/USD may fall 22 - 42 pips

Pivot

1.2945

Our preference

Short positions below 1.2945 with targets at 1.2890 & 1.2870 in extension.

Alternative scenario

Above 1.2945 look for further upside with 1.2965 & 1.2990 as targets.

Comment

The RSI is bearish and calls for further decline.

Supports and resistances

1.2990

1.2965

1.2945

1.2912 Last

1.2890

1.2870

1.2850

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