FX.co ★ GBP/USD H4 | Bullish Continuation

The GBP/USD, there is a potential bullish continuation toward the 1st resistance based on the technical analysis of key support and resistance levels:

Support Levels:

1st support: 1.2623, characterized by "An Overlap support." This level suggests a significant area where buying interest may emerge, providing a foundation for potential upward movement.

2nd support: 1.2574, also supported by "An Overlap support." This further reinforces the importance of this support level.

Resistance Levels:

1st resistance: 1.2696, marked as "Multi-swing high resistance." This level signifies a significant barrier to upward movement, potentially indicating a reversal in the current downtrend.

2nd resistance: 1.2767, also characterized by "Multi-swing high resistance." This further emphasizes the importance of this resistance zone and suggests potential selling pressure at this level.