GBP/USD Intraday: the downside prevails.

2016-10-04

Pivot: 1.2915

Our preference: short positions below 1.2915 with targets @ 1.2790 & 1.2760 in extension.

Alternative scenario: above 1.2915 look for further upside with 1.2950 & 1.2980 as targets.

Comment: as long as 1.2915 is resistance, look for choppy price action with a bearish bias.

Supports and resistances:
1.2980 ***
1.2950 ***
1.2915 ***
1.2820 Last
1.2790 **
1.2760 *
1.2720 *