GBP/USD may fall 30 - 45 pips

Pivot

1.2675

Our preference

Short positions below 1.2675 with targets at 1.2615 & 1.2600 in extension.

Alternative scenario

Above 1.2675 look for further upside with 1.2690 & 1.2705 as targets.

Comment

The break below 1.2675 is a negative signal that has opened a path to 1.2615.

Supports and resistances

1.2705

1.2690

1.2675

1.2645 Last

1.2615

1.2600

1.2595

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