GBP/USD may fall 37 - 72 pips

Pivot

1.2790

Our preference

Short positions below 1.2790 with targets at 1.2690 & 1.2655 in extension.

Alternative scenario

Above 1.2790 look for further upside with 1.2825 & 1.2865 as targets.

Comment

The RSI lacks upward momentum.

Supports and resistances

1.2865

1.2825

1.2790

1.2727 Last

1.2690

1.2655

1.2620

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