GBP/USD Technical Analysis: Cable finding some footing near the 1.3000 figure as bulls want a Friday rally

• GBP/USD is trading in a bull trend above the 200-period simple moving average on the 4-hour chart.
• GBP/USD lost some ground in the last three days as bulls are trying to limit losses at the 1.3000 figure and 50 SMA. The decline seems to have run out of steam for the time being and upside pressure above 1.3050 can be on the cards on the last trading day of the week. 
• A break below 1.3000 on a daily closing basis would see the bear trend resuming. 

GBP/USD 4-hour chart

Main trend:                      Bullish

Resistance 1:                  1.3050 figure
Resistance 2:                  1.3100 figure
Resistance 3:                  1.3150 figure
Resistance 4:                  1.3200 figure
Resistance 5:                  1.3259 October 12 high

Support 1:                      1.3000 figure
Support 2:                      1.2947 key resistance
Support 3:                      1.2921 October 4 low
Support 4:                      1.2900 figure
Support 5:                      1.2854 October 29

 
Additional key levels at a glance: