GBP/USD may fall 23 - 48 pips

Pivot

1.2795

Our preference

Short positions below 1.2795 with targets at 1.2750 & 1.2725 in extension.

Alternative scenario

Above 1.2795 look for further upside with 1.2815 & 1.2840 as targets.

Comment

The RSI is mixed with a bearish bias.

Supports and resistances

1.2840

1.2815

1.2795

1.2773 Last

1.2750

1.2725

1.2690

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