GBP/USD may fall 29 - 64 pips

Pivot

1.2775

Our preference

Short positions below 1.2775 with targets at 1.2690 & 1.2655 in extension.

Alternative scenario

Above 1.2775 look for further upside with 1.2825 & 1.2865 as targets.

Comment

The RSI lacks upward momentum.

Supports and resistances

1.2865

1.2825

1.2775

1.2719 Last

1.2690

1.2655

1.2620

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