FX.co ★ GBPUSD H4 | Potential bearish reversal??

GBP/USD exhibits bullish momentum, targeting the 1st resistance at 1.2212. The 1st support at 1.2088 aligns with overlap support, providing a strong potential support level. Additionally, the 2nd support at 1.2044, also an overlap support, reinforces this support zone.

On the resistance side, the 1st resistance at 1.2212 coincides with the 61.80% Fibonacci Retracement, presenting a formidable barrier to upward movement. The 2nd resistance at 1.2273, an overlap resistance, further signifies a possible area of selling pressure. With the current bullish momentum