GBP/USD may fall 24 - 44 pips

Pivot

1.2645

Our preference

Short positions below 1.2645 with targets at 1.2610 & 1.2590 in extension.

Alternative scenario

Above 1.2645 look for further upside with 1.2670 & 1.2690 as targets.

Comment

As long as the resistance at 1.2645 is not surpassed, the risk of the break below 1.2610 remains high.

Supports and resistances

1.2690

1.2670

1.2645

1.2634 Last

1.2610

1.2590

1.2570

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