The GBP/USD pair is exhibiting a bearish trend, with the price falling beneath the bearish Ichimoku cloud indicating a potential continuation of this trend. Key support levels are at 1.2376 (overlap support) and 1.2305 (swing low support), both potentially attracting buyers to the market.
However, resistance levels at 1.2470 and 1.2536, both serving as multi-swing high resistances, could impede any upward price movements. An additional intermediate resistance at 1.2425, also a multi-swing high resistance, could further hamper any attempts at price increase.