FX.co ★ GBPUSD, H4 | React off Resistance level?

The GBP/USD pair currently displays a bullish trend but may experience a bearish reaction off the 1st resistance, potentially falling to the 1st support level at 1.2847, which provides price stability as a pullback support. The 2nd support at 1.2753, an overlap support, offers further safety for downward moves. On the flip side, the 1st resistance level at 1.2999, which aligns with Fibonacci projection and extension levels, may challenge upward movements. Overcoming this level may lead to the 2nd resistance at 1.3143, a significant swing high resistance.