GBP/USD may fall 27 - 47 pips

Intraday: the downside prevails.

Pivot

1.2670

Our preference

Short positions below 1.2670 with targets at 1.2615 & 1.2595 in extension.

Alternative scenario

Above 1.2670 look for further upside with 1.2690 & 1.2720 as targets.

Comment

The RSI lacks upward momentum.

Supports and resistances

1.2720

1.2690

1.2670

1.2642 Last

1.2615

1.2595

1.2570

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

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