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  • GBP/USD is trading in a bear trend below the 200-period simple moving average.  
  • GBP/USD rebounded from the 1.2700 level and is now testing the 1.1921 October 4 low. GBP/USD broke above the 50 SMA suggesting that bulls have retaken some control.  
  • As indicators are in positive territories bullishness is expected to persist in the coming sessions with 1.2947 and 1.3000 as the level to beat for bulls.  

GBP/USD 4-hour chart

Main trend:                      Bearish  
Short-term trend:              Bullish

Resistance 1:                  1.2921 October 4 low
Resistance 2:                  1.2947 key resistance
Resistance 3:                  1.3000 figure

Support 1:                      1.2900 figure
Support 2:                      1.2854 October 29
Support 3:                      1.2800 figure
Support 4:                      1.2750 figure
Support 5:                      1.2700 figure
Support 6:                      1.2660 August low (2018 low)
Support 7:                      1.2589 June 21, 2017
 

Additional key levels at a glance:

GBP/USD

Overview:
       Last Price:  1.2919
       Daily change:  1.5e+2  pips
       Daily change:  1.20%
       Daily Open:  1.2766
Trends:
       Daily SMA20:  1.3012
       Daily SMA50:  1.3015
       Daily SMA100:  1.3048
       Daily SMA200:  1.3441
Levels:
       Daily High:  1.2832
       Daily Low:  1.2699
       Weekly High:  1.3092
       Weekly Low:  1.2777
       Monthly High:  1.326
       Monthly Low:  1.2696
       Daily Fibonacci 38.2%:  1.2781
       Daily Fibonacci 61.8%:  1.275
       Daily Pivot Point S1:  1.2699
       Daily Pivot Point S2:  1.2632
       Daily Pivot Point S3:  1.2565
       Daily Pivot Point R1:  1.2832
       Daily Pivot Point R2:  1.2899
       Daily Pivot Point R3:  1.2966