GBP/USD Technical Analysis: Cable drifting lower nearing 1.3100 level

• GBP/USD failed to break above the 1.3200 level in Asia and has been drifting lower since the open of the markets this week.  
• The momentum is bearish as GBP/USD is trading below its 200-period simple moving average  and the next scaling points to the downside are  seen near the 1.3100 figure and the current 2018 low at 1.3049 level.

GBP/USD 15-minute chart  

Spot rate:               1.3112
Relative change:     -0.72%      
High:                      1.3210
Low:                       1.3110

Trend:                    Bearish

Resistance 1:        1.3155 former breakout point
Resistance 2:        1.3200 figure
Resistance 3:        1.3256, intraday swing high lastTuesday
Resistance 4:        1.3300 figure

Support 1:             1.3100 figure
Support 2:             1.3049 current 2018 low
Support 3:             1.3027 October 6, 2017 swing low