GBP/USD may fall 31 - 61 pips

Pivot

1.2740

Our preference

Short positions below 1.2740 with targets at 1.2660 & 1.2630 in extension.

Alternative scenario

Above 1.2740 look for further upside with 1.2770 & 1.2800 as targets.

Comment

The RSI is bearish and calls for further downside.

Supports and resistances

1.2800

1.2770

1.2740

1.2691 Last

1.2660

1.2630

1.2610

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