The GBP/USD chart currently has a bearish momentum due to trading below the bearish Ichimoku cloud. There's a potential for a continued bearish movement towards the first support at 1.185, a significant swing low support. An intermediate support at 1.1764 is also notable, characterized by an overlap support and the 50% Fibonacci Retracement.
Regarding resistance, the first resistance at 1.2304 is important as a pullback resistance, possibly hindering upward movement. Additionally, the second resistance at 1.2617 acts as another pullback resistance.
