GBP/USD may fall 30 - 55 pips

Pivot

1.2720

Our preference

Short positions below 1.2720 with targets at 1.2650 & 1.2625 in extension.

Alternative scenario

Above 1.2720 look for further upside with 1.2750 & 1.2780 as targets.

Comment

As long as the resistance at 1.2720 is not surpassed, the risk of the break below 1.2650 remains high.

Supports and resistances

1.2780

1.2750

1.2720

1.2680 Last

1.2650

1.2625

1.2600

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