GBP/USD may fall 29 - 59 pips

Pivot

1.2730

Our preference

Short positions below 1.2730 with targets at 1.2685 & 1.2655 in extension.

Alternative scenario

Above 1.2730 look for further upside with 1.2745 & 1.2755 as targets.

Comment

As long as the resistance at 1.2730 is not surpassed, the risk of the break below 1.2685 remains high.

Supports and resistances

1.2755

1.2745

1.2730

1.2714 Last

1.2685

1.2655

1.2640

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