GBP/USD may fall 20 - 35 pips

Pivot

1.2665

Our preference

Short positions below 1.2665 with targets at 1.2615 & 1.2600 in extension.

Alternative scenario

Above 1.2665 look for further upside with 1.2680 & 1.2695 as targets.

Comment

The break below 1.2665 is a negative signal that has opened a path to 1.2615.

Supports and resistances

1.2695

1.2680

1.2665

1.2635 Last

1.2615

1.2600

1.2595

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