The GBP/USD is signaling a potential bearish reversal, encountering major resistance levels. The 1st resistance at 1.26372 is recognized as an "Overlap resistance," indicating its significance as a potential barrier. Above this, the 2nd resistance at 1.27278 serves as a "Swing high resistance," further emphasized by its alignment with key technical levels.
On the downside, the 1st support at 1.25360 is identified as "Pullback support," suggesting it might attract buying interest, potentially halting a downward move. Below that, the 2nd support at 1.24543 is characterized by an "Overlap support," indicating convergence of multiple factors, potentially strengthening its role as a support zone.
