(06 FEBRUARY 2019)GBP/USD:Look for 1.2890.

Pivot (invalidation): 1.2995

Our preference

Short positions below 1.2995 with targets at 1.2925 & 1.2890 in extension.

Alternative scenario

Above 1.2995 look for further upside with 1.3025 & 1.3055 as targets.

Comment

Even though a continuation of the technical rebound cannot be ruled out, its extent should be

limited.

(By Swissquote TRADING CENTRAL)