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  • GBP/USD main bear trend has been on halt since mid-August as the bulls managed to bring the currency pair above the 50-day simple moving average.
  • GBP/USD is weakening as bulls are having a hard time to break above the 1.3200 figure. The RSI, MACD and Stochastics are decelerating suggesting the current bull trend might be entering a pullback down.  
  • Supports to the downside are seen near 1.3100 and 1.3050 August 30 swing high and key level.  

GBP/USD 4-hour chart

Spot rate:                         1.3154
Relative change:              -0.19%      
High:                                1.3187
Low:                                 1.3138

Main trend:                      Bullish above 1.3200

Resistance 1:                  1.3200 figure (key support/resistance)
Resistance 2:                  1.3300 figure
Resistance 3:                  1.3363 July high
Resistance 4:                  1.3472 June 7 high

Support 1:                      1.3144 key level
Support 2:                      1.3100 figure
Support 3:                      1.3050 August 30 swing high, key level
Support 4:                      1.3000 figure    
Support 5:                      1.2957 July 19 swing low