GBP/USD (British Pound/US Dollar), a potential bearish reversal scenario is outlined as follows:
Resistance Levels:
The 1st resistance level at 1.2615 is identified as "An Overlap resistance," indicating a significant level where selling pressure may emerge due to historical price activity overlapping around this level.
The 2nd resistance level at 1.2656 is described as "Pullback resistance," suggesting an additional barrier to upward movement. T
Support Levels:
The 1st support level at 1.2564 is noted as "An Overlap support," indicating a significant level where buying interest may emerge due to historical price activity overlapping around this level.
The 2nd support level at 1.2539 is described as "An Overlap support," suggesting further reinforcement of support in this area.
