GBP/USD (British Pound/US Dollar), a potential bearish reversal scenario is indicated by the following key levels:
Resistance Levels:
The 1st resistance level at 1.26371 is identified as "An Overlap resistance," suggesting a significant barrier where selling pressure may intensify, potentially leading to a reversal in the price trend.
The 2nd resistance level at 1.26944 is described as "Pullback resistance," indicating another level where sellers might be active, reinforcing the bearish sentiment.
Support Levels:
The 1st support level at 1.25798 is recognized as "An Overlap support," implying a level where buying interest could emerge, potentially providing some support to the price decline.
The 2nd support level at 1.25383 is noted as "An Overlap support," suggesting another area where buyers might enter the market, potentially limiting further downward movement.
