GBP/USD may fall 26 - 46 pips

Intraday: under pressure.

Pivot

1.3190

Our preference

Short positions below 1.3190 with targets at 1.3130 & 1.3110 in extension.

Alternative scenario

Above 1.3190 look for further upside with 1.3210 & 1.3230 as targets.

Comment

As long as 1.3190 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

1.3230

1.3210

1.3190

1.3156 Last

1.3130

1.3110

1.3090

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

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