GBP/USD may fall 23 - 43 pips

Pivot

1.2660

Our preference

Short positions below 1.2660 with targets at 1.2600 & 1.2580 in extension.

Alternative scenario

Above 1.2660 look for further upside with 1.2680 & 1.2700 as targets.

Comment

The RSI is bearish and calls for further downside.

Supports and resistances

1.2700

1.2680

1.2660

1.2623 Last

1.2600

1.2580

1.2550

Number of asterisks represents the strength of support and resistance levels.