Based on Bernoulli's theorem, as the speed of a fluid increases, the pressure it exerts tends to decrease, often referred to as the "velocity-pressure" relationship. It is because the entire energy for a unit of mass is conserved, so if velocity rises, the pressure must decrease to keep the whole energy constant. This concept appears in several applications in real life, such as the effect of venturi in fluid dynamics. In contrast, when the fluid's speed drops, the pressure generally increases. It suggests that pressure tends to rise in chunks of a fluid flow when the speed is decreased (e.g., owing to constrictions or obstructions). Again, this is to preserve total energy per unit of mass conservation. Keep in mind that this theorem applies to an idealistic, non-viscous fluid that is incompressible. Factors like viscosity, compression and turbulence may impact the behaviour of fluids in practical situations. Still, the theory of Bernoulli provides a valuable conceptual foundation for understanding the dynamics of fluids.
You have to understand the principal first. Bernoulli equation is kind of an energy balance equation. If a fluid is moving through something or stationary, the total energy of the fluid should be the same at every location (if no external energy is working).
There are three parts in the equation, Pressure-velocity-elevation/head.
Based on your question, you dropped the elevation term. If the fluid has an higher density, the elevation is quite important.
If the elevation remains constant and you consider incompressible flow, the answer to your question is yes. It is kind of complex for compressible flow where modified Bernoulli equation should be considered.
Venturi concept has been developed based on the energy theorem. When you apply this theorem for ideal fluids higher velocity fluids will have low pressure. However, for real fluids the loss of energy takes place between two points and pressure variations to be counted along with velocity of flow.
To Apfelbaum - In gasdynamics, there is also a generalized Bernoulli theorem which applies to compressible flows, the only assumption being that the flow must be omoenergetic, not even isoentropic.
At any point in a ideal fluid the summation of static pr. and dynamic head is constant. Hence reducing or increasing either of these two terms will affect the other.