GBP/USD may fall 17 - 32 pips

Pivot

1.2700

Our preference

Short positions below 1.2700 with targets at 1.2665 & 1.2650 in extension.

Alternative scenario

Above 1.2700 look for further upside with 1.2715 & 1.2730 as targets.

Comment

The upward potential is likely to be limited by the resistance at 1.2700.

Supports and resistances

1.2730

1.2715

1.2700

1.2682 Last

1.2665

1.2650

1.2630

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