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  • GBP/USD is trading in a bear trend below the 200-period simple moving average on the 4-hour chart.  
  • GBP/USD had an 80-pip rebound after it dipped just below 1.2700 figure. Bulls would need a break above the bearish trendline and a close above 1.2800 on a daily closing basis in order to regain some strength.  
  • The MACD indicator had a bullish crossover but in the short-term, until GBP/USD stays below 1.2800 it remains susceptible to bearish incursions.  

GBP/USD 4-hour chart

Main trend:                      Bearish  

Resistance 1:                  1.2800 figure
Resistance 2:                  1.2854 October 29
Resistance 3:                  1.2900 figure
Resistance 4:                  1.2921 October 4 low

Support 1:                      1.2750 figure
Support 2:                      1.2700 figure
Support 3:                      1.2660 August low (2018 low)
Support 4:                      1.2589 June 21, 2017
 

Additional key levels at a glance:

GBP/USD

Overview:
       Last Price:  1.2768
       Daily change:  61  pips
       Daily change:  0.480%
       Daily Open:  1.2707
Trends:
       Daily SMA20:  1.302
       Daily SMA50:  1.3018
       Daily SMA100:  1.3054
       Daily SMA200:  1.3447
Levels:
       Daily High:  1.2814
       Daily Low:  1.2696
       Weekly High:  1.3092
       Weekly Low:  1.2777
       Monthly High:  1.33
       Monthly Low:  1.2786
       Daily Fibonacci 38.2%:  1.2741
       Daily Fibonacci 61.8%:  1.2769
       Daily Pivot Point S1:  1.2664
       Daily Pivot Point S2:  1.2621
       Daily Pivot Point S3:  1.2546
       Daily Pivot Point R1:  1.2781
       Daily Pivot Point R2:  1.2856
       Daily Pivot Point R3:  1.2899