GBP/USD may fall 14 - 24 pips

Pivot

1.2705

Our preference

Short positions below 1.2705 with targets at 1.2665 & 1.2655 in extension.

Alternative scenario

Above 1.2705 look for further upside with 1.2725 & 1.2740 as targets.

Comment

The break below 1.2705 is a negative signal that has opened a path to 1.2665.

Supports and resistances

1.2740

1.2725

1.2705

1.2679 Last

1.2665

1.2655

1.2640

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