GBP/USD may fall 23 - 43 pips

Pivot

1.2770

Our preference

Short positions below 1.2770 with targets at 1.2730 & 1.2710 in extension.

Alternative scenario

Above 1.2770 look for further upside with 1.2785 & 1.2800 as targets.

Comment

As long as 1.2770 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

1.2800

1.2785

1.2770

1.2753 Last

1.2730

1.2710

1.2700

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