GBP/USD may fall 27 - 47 pips

Pivot

1.2690

Our preference

Short positions below 1.2690 with targets at 1.2635 & 1.2615 in extension.

Alternative scenario

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

Comment

As long as the resistance at 1.2690 is not surpassed, the risk of the break below 1.2635 remains high.

Supports and resistances

1.2735

1.2715

1.2690

1.2662 Last

1.2635

1.2615

1.2595

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