The GBP/USD chart exhibits bullish momentum, with the likelihood of a minor dip to the 1st support before rebounding towards the 1st resistance. The 1st support at 1.2824, bolstered by its overlap and 61.80% Fibonacci retracement status, could curb any bearish trends. The 2nd support at 1.2676, another overlap support with a 78.60% Fibonacci retracement, further enhances its rebound potential. The 1st resistance at 1.2905, characterized by overlap resistance and 38.20% Fibonacci retracement, may generate selling pressure. The 2nd resistance at 1.3002, acting as a pullback resistance at 61.80% Fibonacci retracement, underscores its potential as a pivot point in a bullish market.
