The GBP/USD chart is currently indicating potential signs of a bearish reversal, with notable resistance levels presenting significant barriers to further upward movement.
Resistance Levels:
The 1st resistance at 1.26622 is categorized as "Pullback resistance," indicating its potential to hinder upward price movements. Beyond this, the 2nd resistance level at 1.27158 is identified as "Multi-swing high resistance," emphasizing its role as a substantial barrier to further advances.
Support Levels:
On the support side, the 1st support at 1.26136 is recognized as "Pullback support." This level suggests a zone where buying interest may emerge, potentially providing some support to the price. Additionally, the 2nd support at 1.25072 is characterized by "An Overlap support," reinforcing its significance as a substantial support zone.
