GBP/USD may fall 16 - 36 pips

Pivot

1.2660

Our preference

Short positions below 1.2660 with targets at 1.2620 & 1.2600 in extension.

Alternative scenario

Above 1.2660 look for further upside with 1.2680 & 1.2700 as targets.

Comment

As long as the resistance at 1.2660 is not surpassed, the risk of the break below 1.2620 remains high.

Supports and resistances

1.2700

1.2680

1.2660

1.2636 Last

1.2620

1.2600

1.2580

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