GBP/USD may fall 16 - 36 pips

Pivot

1.2665

Our preference

Short positions below 1.2665 with targets at 1.2620 & 1.2600 in extension.

Alternative scenario

Above 1.2665 look for further upside with 1.2690 & 1.2710 as targets.

Comment

The RSI advocates for further downside.

Supports and resistances

1.2710

1.2690

1.2665

1.2636 Last

1.2620

1.2600

1.2580

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