GBP/USD may fall 18 - 33 pips

Pivot

1.2730

Our preference

Short positions below 1.2730 with targets at 1.2685 & 1.2670 in extension.

Alternative scenario

Above 1.2730 look for further upside with 1.2745 & 1.2765 as targets.

Comment

The immediate trend remains down and the momentum is strong.

Supports and resistances

1.2765

1.2745

1.2730

1.2703 Last

1.2685

1.2670

1.2650

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