(07 AUGUST 2018)GBP/USD:Target 1.2920.

Pivot (invalidation): 1.2970

Our preference

Short positions below 1.2970 with targets at 1.2920 & 1.2890 in extension.

Alternative scenario

Above 1.2970 look for further upside with 1.3005 & 1.3040 as targets.

Comment

As Long as the resistance at 1.2970 is not surpassed, the risk of the break below 1.2920

remains high. 

(By Swissquote TRADING CENTRAL)