GBP/USD may fall 12 - 32 pips

Pivot

1.2720

Our preference

Short positions below 1.2720 with targets at 1.2685 & 1.2665 in extension.

Alternative scenario

Above 1.2720 look for further upside with 1.2740 & 1.2760 as targets.

Comment

The RSI is bearish and calls for further downside.

Supports and resistances

1.2760

1.2740

1.2720

1.2697 Last

1.2685

1.2665

1.2650

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