GBPUSD Daily Outlook : Downside Prevails

FX:GBPUSD   British Pound / U.S. Dollar
20 0 4
Short positions below pivot 1.3500 with targets 1.2785 & 1.2450 in extension.

Above 1.3500 look for further upside with 1.4000 & 1.5000 as targets.

A break below 1.2785 would trigger a drop towards 1.2450. The pair has completed a pullback towards June 2009 low at 1.35, which now acts as a resistance.

Supports and resistances :
1.5000 **
1.4000 **
1.3500 ***
1.2979 Last
1.2785 ***
1.2450 **
1.1670 **

Money management in priority.
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