GBP/USD may fall 15 - 50 pips

Pivot

1.2730

Our preference

Short positions below 1.2730 with targets at 1.2675 & 1.2640 in extension.

Alternative scenario

Above 1.2730 look for further upside with 1.2755 & 1.2775 as targets.

Comment

The RSI has broken down its 30 level.

Supports and resistances

1.2775

1.2755

1.2730

1.2690 Last

1.2675

1.2640

1.2610

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