GBP/USD may fall 31 - 56 pips

Pivot

1.2700

Our preference

Short positions below 1.2700 with targets at 1.2640 & 1.2615 in extension.

Alternative scenario

Above 1.2700 look for further upside with 1.2730 & 1.2745 as targets.

Comment

The break below 1.2700 is a negative signal that has opened a path to 1.2640.

Supports and resistances

1.2745

1.2730

1.2700

1.2671 Last

1.2640

1.2615

1.2600

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