GBP/USD may fall 32 - 67 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 break below 1.2775 is a negative signal that has opened a path to 1.2690.

Supports and resistances

1.2865

1.2825

1.2775

1.2722 Last

1.2690

1.2655

1.2620

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