GBP/USD Under Pressure

Pivot (invalidation): 1.2950

Our preference Short positions below 1.2950 with targets at 1.2870 & 1.2835 in extension.

Alternative scenario Above 1.2950 look for further upside with 1.2990 & 1.3025 as targets.

Comment As Long as the resistance at 1.2950 is not surpassed, the risk of the break below 1.2870 remains high. The pair has crossed below a bullish trend line in place since October 14.

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