GBP/USD may fall 26 - 39 pips

1.2802 is our pivot point.

Our preference

The downside prevails as long as 1.2802 is resistance.

Alternative scenario

Above 1.2802, look for 1.2824 and 1.2837.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.2799 and 1.2804).

Supports and resistances

1.2837 **

1.2824 *

1.2802 **

1.2794

1.2782 last

1.2756

1.2743 **

1.2730 *

1.2717 **

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