GBP/JPY shows potential for a bearish reversal, as indicated by the technical analysis of key support and resistance levels:
Resistance Levels:
1st resistance: 191.26, identified as "Swing high resistance." This level presents a significant barrier to further upward movement.
Support Levels:
1st support: 190.29, characterized as "Pullback support." This level suggests a potential area where buying interest could emerge, possibly halting a downward move.
2nd support: 189.69, supported by "An Overlap support." This level further reinforces the potential support zone, indicating a region where buyers may intervene.
