FX.co ★ GBPUSD, H4 | Bearish Continuation Expected?

The GBP/USD chart currently displays a bearish momentum within a descending channel, indicating a potential continuation of the existing downward trend. This bearish sentiment suggests the likelihood of a bearish continuation towards the 1st support at 1.2670, which holds importance as an overlap support. Furthermore, the 2nd support at 1.2591 contributes to the support structure, coinciding with a swing low level. Regarding resistance, attention is drawn to the 1st resistance at 1.2725 and the 2nd resistance at 1.2779. While specifics for the 1st resistance aren't provided, the 2nd resistance is identified as an overlap resistance.