The GBP/USD chart is currently indicating the potential for a bullish continuation towards the 1st resistance level.
Support Levels:
The 1st support level at 1.26047 is labeled as "An Overlap support," suggesting a significant area where buying interest may emerge. Additionally, the 2nd support level at 1.24984 is supported by "Multi-swing low support" and the 38.20% Fibonacci Retracement, reinforcing its role as a substantial support zone.
Resistance Levels:
The 1st resistance level at 1.27920 is characterized as "An Overlap resistance," signifying a notable barrier to further upward price movement. Beyond this, the 2nd resistance level at 1.29020 is influenced by the 78.60% Fibonacci Retracement, emphasizing its significance as a resistance zone.
