GBP/USD may fall 16 - 31 pips

Pivot

1.2825

Our preference

Short positions below 1.2825 with targets at 1.2790 & 1.2775 in extension.

Alternative scenario

Above 1.2825 look for further upside with 1.2845 & 1.2860 as targets.

Comment

As long as the resistance at 1.2825 is not surpassed, the risk of the break below 1.2790 remains high.

Supports and resistances

1.2860

1.2845

1.2825

1.2806 Last

1.2790

1.2775

1.2750

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