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  • GBP/USD is consolidating after it broke from a bull flag pattern (blue dotted lines).  
  • GBP/USD is finding support above the 1.3000 figure as the market is creating a small triangle compression pattern (orange dotted lines).
  • Bulls objective is to break above 1.3100 to reach 1.3200 figure. A break below 1.3000 would likely invalidate the current bullish bias.

GBP/USD 4-hour chart

Spot rate:                         1.3073
Relative change:              -0.12%      
High:                                1.3106
Low:                                 1.3033

Main trend:                      Bullish

Resistance 1:                  1.3100 figure
Resistance 2:                  1.3150 September 21 low
Resistance 3:                  1.3200 figure

   
Support 1:                      1.3050 August 30 swing high, key level
Support 2:                      1.3028 October 8 low
Support 3:                      1.3000 figure  
Support 4:                      1.2957 July 19 swing low  
Support 5:                      1.2900 figure