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  • GBP/USD is trading in a bear trend below the 200-period simple moving average on the 4-hour chart.  
  • GBP/USD is retreating below the 1.3000 figure after the Nonfarm Payrolls in the US showed 250K vs. 190K forecast in October.  
  • GBP/USD enjoyed a 350-pip bull run in the last two days and is now consolidating the gains. A pullback to 1.2947 might be on the cards as the 200 SMA is capping and the RSI and Stochastic indicators are in overbought condition.  

GBP/USD 4-hour chart

Main trend:                      Bearish  

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:

GBP/USD

Overview:
       Last Price:  1.2997
       Daily change:  -8.0  pips
       Daily change:  -0.0615%
       Daily Open:  1.3005
Trends:
       Daily SMA20:  1.3011
       Daily SMA50:  1.3019
       Daily SMA100:  1.3045
       Daily SMA200:  1.3436
Levels:
       Daily High:  1.3036
       Daily Low:  1.2762
       Weekly High:  1.3092
       Weekly Low:  1.2777
       Monthly High:  1.326
       Monthly Low:  1.2696
       Daily Fibonacci 38.2%:  1.2932
       Daily Fibonacci 61.8%:  1.2867
       Daily Pivot Point S1:  1.2833
       Daily Pivot Point S2:  1.266
       Daily Pivot Point S3:  1.2558
       Daily Pivot Point R1:  1.3107
       Daily Pivot Point R2:  1.3209
       Daily Pivot Point R3:  1.3382