GBP/USD may fall 25 - 50 pips

Pivot

1.2790

Our preference

Short positions below 1.2790 with targets at 1.2725 & 1.2700 in extension.

Alternative scenario

Above 1.2790 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

1.2790

1.2750 Last

1.2725

1.2700

1.2680

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