GBP/USD Technical Analysis: Cable breaking to the downside en route to 1.3000 figure

• GBP/USD momentum has switched to bearish as the market is trading below the 200-period simple moving average.  
• GBP/USD is about to test 1.3000 figure as the RSI, MACD and Stochastic indicators are bearishly configured.  
• A break of the level should open the gates to 1.2957 (July 19 swing low) and 1.2900 figure.  

GBP/USD 4-hour chart

Spot rate:                         1.3020
Relative change:             -0.73%      
High:                                1.3132
Low:                                 1.3016

Main trend:                      Bearish

Resistance 1:                  1.3028 October 8 low
Resistance 2:                  1.3050 August 30 swing high, key level
Resistance 3:                  1.3100 figure
Resistance 4:                  1.3140 October 16 low

Support 1:                      1.3000 figure  
Support 2:                      1.2957 July 19 swing low  
Support 3:                      1.2900 figure