The GBP/USD chart is showing potential for a bullish scenario. Here are the key support and resistance levels:
Resistance Levels:
The 1st resistance level at 1.2789 is identified as "An Overlap resistance." This level could act as a barrier to further upward movement and may require strong buying pressure to break through.
The 2nd resistance level at 1.2939 is labeled as "Swing high resistance." It represents a higher hurdle for the price and could be an area where sellers become active.
Support Levels:
The 1st support level at 1.2615 is an important support zone, indicated as "An Overlap support." This level may provide buying interest and prevent the price from dropping further.
The 2nd support level at 1.2502 is also labeled as "An Overlap support." It serves as an additional support zone where traders may consider entering bullish positions.
