GBP/USD may fall 27 - 47 pips

Pivot

1.2945

Our preference

Short positions below 1.2945 with targets at 1.2900 & 1.2880 in extension.

Alternative scenario

Above 1.2945 look for further upside with 1.2970 & 1.2990 as targets.

Comment

The upward potential is likely to be limited by the resistance at 1.2945.

Supports and resistances

1.2990

1.2970

1.2945

1.2927 Last

1.2900

1.2880

1.2860

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