GBP/USD may fall 6 - 26 pips

Pivot

1.2765

Our preference

Short positions below 1.2765 with targets at 1.2730 & 1.2710 in extension.

Alternative scenario

Above 1.2765 look for further upside with 1.2785 & 1.2800 as targets.

Comment

As long as the resistance at 1.2765 is not surpassed, the risk of the break below 1.2730 remains high.

Supports and resistances

1.2800

1.2785

1.2765

1.2736 Last

1.2730

1.2710

1.2700

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