FX.co ★ GBPUSD H4 | Falling to support level?

The GBP/USD chart has a bearish momentum, potentially moving towards the 1st support at 1.2321, a pullback support. The 2nd support at 1.2266 adds to the potential support zone.

On the resistance side, the 1st resistance at 1.2447, an overlap resistance, coincides with the 161.80% Fibonacci Extension, posing a potential selling pressure level. The 2nd resistance at 1.2533 reinforces its resistance status.