GBP/USD may fall 39 - 59 pips

Pivot

1.2710

Our preference

Short positions below 1.2710 with targets at 1.2650 & 1.2630 in extension.

Alternative scenario

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

Comment

As long as 1.2710 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

1.2750

1.2730

1.2710

1.2689 Last

1.2650

1.2630

1.2600

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