For GBP/USD (British Pound/US Dollar), there's a potential bearish reversal scenario indicated by the following key levels:
Resistance Levels:
The 1st resistance level at 1.26386 is identified as "An Overlap resistance," suggesting a significant barrier where selling pressure could intensify, potentially leading to a reversal in the price trend.
The 2nd resistance level at 1.26820 is described as "Pullback resistance," indicating another level where sellers might be active, reinforcing the bearish sentiment.
Support Levels:
The 1st support level at 1.25331 is recognized as "Swing low support," implying a level where buying interest may emerge, potentially providing a floor for the price decline.
The 2nd support level at 1.24567 is noted as "An Overlap support," suggesting another area where buyers could enter the market, potentially limiting further downward movement.
