GBP/USD may fall 28 - 43 pips

Pivot

1.2735

Our preference

Short positions below 1.2735 with targets at 1.2695 & 1.2680 in extension.

Alternative scenario

Above 1.2735 look for further upside with 1.2760 & 1.2780 as targets.

Comment

As long as the resistance at 1.2735 is not surpassed, the risk of the break below 1.2695 remains high.

Supports and resistances

1.2780

1.2760

1.2735

1.2723 Last

1.2695

1.2680

1.2660

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