GBP/USD may fall 19 - 34 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

As long as 1.2700 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

1.2730

1.2715

1.2700

1.2684 Last

1.2665

1.2650

1.2630

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