GBP/USD may fall 26 - 37 pips

Our pivot point is at 1.2739.

Our preference

The downside prevails as long as 1.2739 is resistance.

Alternative scenario

Above 1.2739, look for 1.2757 and 1.2768.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.2744 and 1.2772).

Supports and resistances

1.2768 **

1.2757 *

1.2739 **

1.2731

1.2723 last

1.2697

1.2686 **

1.2675 *

1.2664 **

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