FX.co ★ GBPUSD, H4 | Bullish continuation expected?

The GBP/USD chart shows a bullish momentum, with the price above a significant ascending trend line, indicating potential upward movement.

This positive momentum suggests that the price could continue its bullish trend towards the first resistance level at 1.2467, which is an overlap resistance and supported by the 50% Fibonacci retracement.

Support levels include the first support at 1.2376, an overlap support, and the second support at 1.2305, a swing low support.

Additionally, the second resistance level at 1.2536 acts as a multi-swing high resistance.