GBP/USD may fall 22 - 42 pips

Pivot

1.2710

Our preference

Short positions below 1.2710 with targets at 1.2670 & 1.2650 in extension.

Alternative scenario

Above 1.2710 look for further upside with 1.2730 & 1.2750 as targets.

Comment

As long as the resistance at 1.2710 is not surpassed, the risk of the break below 1.2670 remains high.

Supports and resistances

1.2750

1.2730

1.2710

1.2692 Last

1.2670

1.2650

1.2630

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