GBP/USD may fall 30 - 60 pips

Pivot

1.2750

Our preference

Short positions below 1.2750 with targets at 1.2685 & 1.2655 in extension.

Alternative scenario

Above 1.2750 look for further upside with 1.2780 & 1.2810 as targets.

Comment

As long as the resistance at 1.2750 is not surpassed, the risk of the break below 1.2685 remains high.

Supports and resistances

1.2810

1.2780

1.2750

1.2715 Last

1.2685

1.2655

1.2630

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