GBP/USD may fall 18 - 53 pips

Pivot

1.2735

Our preference

Short positions below 1.2735 with targets at 1.2675 & 1.2640 in extension.

Alternative scenario

Above 1.2735 look for further upside with 1.2760 & 1.2775 as targets.

Comment

The RSI has broken down its 30 level.

Supports and resistances

1.2775

1.2760

1.2735

1.2693 Last

1.2675

1.2640

1.2610

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