GBP/USD may fall 26 - 51 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 lacks upward momentum.

Supports and resistances

1.2840

1.2815

1.2795

1.2776 Last

1.2750

1.2725

1.2690

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