FX.co ★ GBPUSD, H4 | Ascending Trendline acts as support?

GBP/USD has an overall bearish momentum with potential for a bearish continuation towards the 1st support level at 1.2541, which is an overlap support level and coincides with the 50% Fibonacci retracement level. The 2nd support level is at 1.2439, a multi-swing low support level. On the resistance side, the 1st resistance level is at 1.2652, a multi-swing high resistance level. There's also an intermediate support level at 1.2583, a multi-swing high resistance level that coincides with the 38.20% Fibonacci retracement level.