GBP/USD (British Pound/US Dollar), a potential bearish scenario is indicated by the following key levels:
Resistance Levels:
The 1st resistance level at 1.2639 is identified as "An Overlap resistance," suggesting a significant barrier where selling pressure may increase, potentially leading to a downward movement in the price.
The 2nd resistance level at 1.2682 is described as "Pullback resistance," indicating another level where sellers might be active, reinforcing the bearish sentiment.
Support Levels:
The 1st support level at 1.2581 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 1.2507 is noted as "Multi-swing low support," suggesting another area where buyers might enter the market, potentially limiting further downward movement.
