The current price: 1.2560
Key point: 1.2600
Our preferred direction: short positions below 1.2600, targeting 1.2430 as a first target, then 1.2355 as a second target.
Alternative scenario: stop the loss and change the direction by breaking 1.2600, targeting 1.2650.
Technical comment
The pound/dollar pair has reached resistance levels over the daily timeframe 1.2630-1.2600, with a bearish trend line over the weekly timeframe, so a bearish rebound is expected for the pair from these levels, targeting the next support levels 1.2355-1.2430
