GBP/USD may fall 19 - 39 pips

Pivot

1.2785

Our preference

Short positions below 1.2785 with targets at 1.2735 & 1.2715 in extension.

Alternative scenario

Above 1.2785 look for further upside with 1.2805 & 1.2830 as targets.

Comment

The RSI calls for a new downleg.

Supports and resistances

1.2830

1.2805

1.2785

1.2754 Last

1.2735

1.2715

1.2685

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