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  • GBP/USD is switching to a bull trend. The market is consolidating the recent gains in a bull flag.
  • GBP/USD is finding support at the 1.3000 figure,  at the bearish trendline (blue dotted line) and above the 200-period simple moving average.  
  • Bulls objective is to re-conquer the 1.3100 and 1.3200 levels. A breakout below 1.3000 would negate the bearish scenario.

GBP/USD 4-hour chart

Spot rate:                         1.3049
Relative change:             -0.22%      
High:                                1.3091
Low:                                 1.3000

Main trend:                      Bullish

Resistance 1:                  1.3050 August 30 swing high, key level
Resistance 2:                  1.3100 figure
Resistance 3:                  1.3144 key level
Resistance 3:                  1.3200 figure (key support/resistance)
Resistance 4:                  1.3300 figure
Resistance 5:                  1.3363 July high
Resistance 6:                  1.3472 June 7 high

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