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  • GBP/USD is trading in a bull trend above the 200-period simple moving average on the 4-hour chart.  
  • GBP/USD is having a steep spike up to 1.3150. However, the market is overbought as per the RSI and Stochastic indicators suggesting that bulls might have overstretched themselves.  
  • A pullback down to 1.3100 and to 1.3050 might be in the making if bears keep the market below 1.3150.  

GBP/USD 4-hour chart

Main trend:                      Bullish
Short-term:                      Bearish

Resistance 1:                  1.3150 figure
Resistance 2:                  1.3200 figure
Resistance 3:                  1.3259 October 12 high

Support 1:                      1.3100 figure
Support 2:                      1.3043, October 23 high
Support 3:                      1.3000 figure
Support 4:                      1.2947 key resistance
Support 5:                      1.2921 October 4 low
Support 6:                      1.2900 figure
Support 7:                      1.2854 October 29

 

Additional key levels at a glance:

GBP/USD

Overview:
       Last Price:  1.3138
       Daily change:  41  pips
       Daily change:  0.313%
       Daily Open:  1.3097
Trends:
       Daily SMA20:  1.2998
       Daily SMA50:  1.3029
       Daily SMA100:  1.3039
       Daily SMA200:  1.3419
Levels:
       Daily High:  1.31
       Daily Low:  1.3021
       Weekly High:  1.3042
       Weekly Low:  1.2696
       Monthly High:  1.326
       Monthly Low:  1.2696
       Daily Fibonacci 38.2%:  1.307
       Daily Fibonacci 61.8%:  1.3051
       Daily Pivot Point S1:  1.3045
       Daily Pivot Point S2:  1.2993
       Daily Pivot Point S3:  1.2966
       Daily Pivot Point R1:  1.3125
       Daily Pivot Point R2:  1.3152
       Daily Pivot Point R3:  1.3204