GBP/USD may fall 32 - 62 pips

Pivot

1.2820

Our preference

Short positions below 1.2820 with targets at 1.2735 & 1.2705 in extension.

Alternative scenario

Above 1.2820 look for further upside with 1.2845 & 1.2865 as targets.

Comment

The break below 1.2820 is a negative signal that has opened a path to 1.2735.

Supports and resistances

1.2865

1.2845

1.2820

1.2767 Last

1.2735

1.2705

1.2680

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