GBP/USD may fall 22 - 42 pips

Pivot

1.2860

Our preference

Short positions below 1.2860 with targets at 1.2800 & 1.2780 in extension.

Alternative scenario

Above 1.2860 look for further upside with 1.2875 & 1.2890 as targets.

Comment

The RSI is bearish and calls for further downside.

Supports and resistances

1.2890

1.2875

1.2860

1.2822 Last

1.2800

1.2780

1.2760

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