The GBP/USD chart is currently indicating potential signs of a bullish momentum, as it approaches a key resistance level.
Resistance Levels:
The 1st resistance at 1.2788 is categorized as an "Overlap Resistance" indicating its potential to hinder upward price movements. Beyond this, the 2nd resistance level at 1.2932 is identified as "Pullback Resistance" emphasizing its role as a substantial barrier to further advances.
Support Levels:
On the support side, the 1st support at 1.2495 is recognized as an "Overlap Support". This level suggests a zone where buying interest may emerge, potentially providing some support to the price. Additionally, the 2nd support at 1.2379 is also characterized by an "Overlap Support", reinforcing its significance as a substantial support zone.
