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  • GBP/USD bears want to  break below 1.2957 key level in order to re-establish a strong bearish bias.  
  • GBP/USD rejected 1.3000 figure while it is trading below its 50, 100 and 200-period simple moving average. The RSI, MACD and Stochastics indicators are in mild negative territories. GBP/USD looks set for a retest of 1.2957 level (July 19 swing low).
  • A bear breakout below 1.2957 would open the gates to 1.2900 and 1.2800 figure  

GBP/USD 4-hour chart

Spot rate:                         1.2993
Relative change:              0.11%      
High:                                1.3024
Low:                                 1.2962

Main trend:                      Bullish
Short-term trend:             Bearish

Resistance 1:                  1.3000 figure    
Resistance 2:                  1.3050 August 30 swing high, key level
Resistance 3:                  1.3100 figure
Resistance 4:                  1.3144 key level
Resistance 5:                  1.3200 figure (key support/resistance)
Resistance 6:                  1.3300 figure
Resistance 7:                  1.3363 July high
Resistance 8:                  1.3472 June 7 high
   
Support 1:                      1.2957 July 19 swing low
Support 2:                      1.2900 figure  
Support 3:                      1.2800 figure