GBP/USD may fall 22 - 42 pips

Pivot

1.2695

Our preference

Short positions below 1.2695 with targets at 1.2635 & 1.2615 in extension.

Alternative scenario

Above 1.2695 look for further upside with 1.2715 & 1.2735 as targets.

Comment

The break below 1.2695 is a negative signal that has opened a path to 1.2635.

Supports and resistances

1.2735

1.2715

1.2695

1.2657 Last

1.2635

1.2615

1.2595

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