GBP/USD may fall 28 - 38 pips

Pivot

1.2795

Our preference

Short positions below 1.2795 with targets at 1.2735 & 1.2725 in extension.

Alternative scenario

Above 1.2795 look for further upside with 1.2815 & 1.2830 as targets.

Comment

The RSI is bearish and calls for further decline.

Supports and resistances

1.2830

1.2815

1.2795

1.2763 Last

1.2735

1.2725

1.2690

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