The GBP/USD chart currently displays a cautious bullish momentum, implying a tentative inclination towards upward price movement.
There is a potential for a bullish continuation targeting the significant area of overlap resistance at 1.2575.
For potential downside movements, focus should be directed to the first support level at 1.2498. This level coincides with a 50% Fibonacci retracement, suggesting it could act as a supportive barrier. Additionally, the second support level at 1.2448, characterized by an overlap support level and a 38.20% Fibonacci retracement, represents another notable area of support to monitor.
