The GBP/USD chart currently exhibits bullish momentum, indicating the potential for an upward move towards the 1st resistance. The 1st support at 1.2301, associated with the 23.60% Fibonacci Retracement level, could attract buying interest, serving as a significant level. The 2nd support at 1.2073, characterized as a multi-swing low support, reinforces its role as a support level. On the resistance side, the 1st resistance at 1.2597, linked to the 50% Fibonacci Retracement level, may exert selling pressure. Additionally, intermediate resistance at 1.2455, related to the 38.20% Fibonacci Retracement level, adds to potential resistance areas.
