GBP/USD Technical Analysis: Cable bulls erase two weeks of losses in two days as the market hits 1.3000 figure

• GBP/USD is having a sharp bounce  up reversing nearly two weeks of losses in the last two days.  
• GBP/USD bulls want to keep the market above the 1.3000 figure and break above the 200-period simple moving average as the market is set to grind higher in the coming sessions.
• Targets to the upside are likely located near 1.3043 (October 23 high) and 1.3100 figure.  

GBP/USD 4-hour chart

Main trend:                      Bearish  
Short-term trend:                Bullish

Resistance 1:                  1.3000 figure
Resistance 2:                  1.3043, October 23 high
Resistance 3:                  1.3100 figure

Support 1:                      1.2947 key resistance
Support 2:                      1.2921 October 4 low
Support 3:                      1.2900 figure
Support 4:                      1.2854 October 29
Support 5:                      1.2800 figure

Additional key levels at a glance: