GBP/USD may fall 28 - 48 pips

Pivot

1.2700

Our preference

Short positions below 1.2700 with targets at 1.2655 & 1.2635 in extension.

Alternative scenario

Above 1.2700 look for further upside with 1.2715 & 1.2735 as targets.

Comment

The RSI is bearish and calls for further decline.

Supports and resistances

1.2735

1.2715

1.2700

1.2683 Last

1.2655

1.2635

1.2600

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