GBP/USD may fall 21 - 46 pips

Pivot

1.2690

Our preference

Short positions below 1.2690 with targets at 1.2650 & 1.2625 in extension.

Alternative scenario

Above 1.2690 look for further upside with 1.2715 & 1.2735 as targets.

Comment

As long as 1.2690 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

1.2735

1.2715

1.2690

1.2671 Last

1.2650

1.2625

1.2600

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