GBP/USD Technical Analysis: Cable retracing to 1.3100 resistance after bouncing from new 2018 low

• GBP/USD is currently rejecting the 1.3100 figure after a bull  reversal  attempt after reaching a new 2018 low at 1.3049.  
• The bearish momentum remains in place as bears objective is to retest the 1.3049 level.  
• However, a bull  breakout above the 1.3100 figure can lead to a bull move continuation towards 1.3155 former breakout point.

GBP/USD 15-minute chart

Spot rate:               1.3091
Relative change:    -0.17%      
High:                      1.3123
Low:                       1.3049

Trend:                    Bearish

Resistance 1:        1.3100 figure
Resistance 2:        1.3155 former breakout point
Resistance 3:        1.3200 figure
Resistance 4:        1.3235 Tuesday’s high
Resistance 5:        1.3260, intraday swing high Tuesday

Support 1:             1.3049 current 2018 low
Support 2:             1.3027 October 6, 2017 swing low
Support 3:             1.2774, August 24, 2017 swing low