The GBP/USD chart currently has a bearish momentum, and there's a potential scenario of a bearish reaction off the 1st resistance level, leading to a drop towards the 1st support. The 1st support at 1.2122 aligns with an overlap support, while the 2nd support at 1.2061 is a multi-swing low support. On the resistance side, the 1st resistance at 1.2270 is a pullback resistance, and the 2nd resistance at 1.2337 is a swing high resistance. Additionally, there is an intermediate support at 1.2212, which can act as pullback support.
