GBP/USD may fall 11 - 36 pips

Pivot

1.2740

Our preference

Short positions below 1.2740 with targets at 1.2700 & 1.2675 in extension.

Alternative scenario

Above 1.2740 look for further upside with 1.2755 & 1.2770 as targets.

Comment

The break below 1.2740 is a negative signal that has opened a path to 1.2700.

Supports and resistances

1.2770

1.2755

1.2740

1.2711 Last

1.2700

1.2675

1.2650

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