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27.11.2023 06:18 AM
The GBP/USD is showing signs of a potential bearish reversal, facing major resistance levels ahead. The 1st resistance at 1.26 is recognized as a pullback resistance and is significant due to its alignment with the 50% Fibonacci retracement. Above this, the 2nd resistance at 1.27 serves as a swing high resistance, backed by the 61.80% Fibonacci retracement, suggesting a stronger potential barrie
On the downside, the 1st support at 1.24 is identified as an overlap resistance, indicating a possible area where previous resistance could turn into support.
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