GBP/USD Technical Analysis: Cable bulls looking at 1.3100 figure

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  • GBP/USD is trading in a bear trend below its 200-period simple moving average. However, bulls are working hard at creating a reversal up. 
  • GBP/USD is currently trapped between 1.2957 and 1.3050 level after enjoying a strong rally in the last days. The RSI, MACD and Stochastic indicator suggest more gains ahead. 
  • Bulls will need to overcome the 1.3050 resistance to set their eyes on 1.3100 and 1.3200 figure. 

GBP/USD 4-hour chart


	GBP/USD Technical Analysis: Cable bulls looking at 1.3100 figure

Main trend:                      Bearish to bullish above 1.3050 

Resistance 1:                  1.3000 figure
Resistance 2:                  1.3043, October 23 high
Resistance 3:                  1.3100 figure
Resistance 4:                  1.3200 figure

Support 1:                      1.2947 key resistance
Support 2:                      1.2921 October 4 low
Support 3:                      1.2900 figure
Support 4:                      1.2854 October 29
Support 5:                      1.2800 figure

Additional key levels at a glance:

GBP/USD

Overview:
    Last Price: 1.3014
    Daily change: 46 pips
    Daily change: 0.355%
    Daily Open: 1.2968
Trends:
    Daily SMA20: 1.3003
    Daily SMA50: 1.3021
    Daily SMA100: 1.3042
    Daily SMA200: 1.343
Levels:
    Daily High: 1.3042
    Daily Low: 1.2952
    Weekly High: 1.3042
    Weekly Low: 1.2696
    Monthly High: 1.326
    Monthly Low: 1.2696
    Daily Fibonacci 38.2%: 1.2986
    Daily Fibonacci 61.8%: 1.3008
    Daily Pivot Point S1: 1.2932
    Daily Pivot Point S2: 1.2896
    Daily Pivot Point S3: 1.2841
    Daily Pivot Point R1: 1.3023
    Daily Pivot Point R2: 1.3078
    Daily Pivot Point R3: 1.3114

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