FX.co ★ GBPUSD, H4 | Bounce off Support?

The GBP/USD pair is currently on a bearish trend, positioned below a crucial descending trend line. The price is expected to descend towards the 1st support level at 1.2755, a key overlap support. If broken, the 2nd support at 1.2591 may provide further defense against the downtrend. However, if a momentum shift occurs, the 1st resistance to watch is 1.2838, a pullback resistance, and the 2nd resistance at 1.2996 could present a significant barrier for the price's upward movement.