GBP/USD may fall 39 - 69 pips

Pivot

1.2745

Our preference

Short positions below 1.2745 with targets at 1.2685 & 1.2655 in extension.

Alternative scenario

Above 1.2745 look for further upside with 1.2780 & 1.2810 as targets.

Comment

As long as the resistance at 1.2745 is not surpassed, the risk of the break below 1.2685 remains high.

Supports and resistances

1.2810

1.2780

1.2745

1.2724 Last

1.2685

1.2655

1.2640

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