GBP/USD may fall 15 - 50 pips

Pivot

1.2715

Our preference

Short positions below 1.2715 with targets at 1.2675 & 1.2640 in extension.

Alternative scenario

Above 1.2715 look for further upside with 1.2740 & 1.2755 as targets.

Comment

The break below 1.2715 is a negative signal that has opened a path to 1.2675.

Supports and resistances

1.2755

1.2740

1.2715

1.2690 Last

1.2675

1.2640

1.2610

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