GBP/USD Technical Analysis: GBP/USD supported above 1.3100 figure

• GBP/USD has found support near the 1.3100 level for the second consecutive day as GBP/USD is consolidating last Thursday’s drop.
• GBP/USD bulls are working at keeping the market above the 50,100 and 200-period simple moving average, suggesting building bullish momentum.
• Resistances to the upside are likely located near 1.3155 and the 1.3200 figure while supports are likely located near the 1.3100-1.3076 area and 1.3049 June 28 low. A bear breakout below 1.3100-1.3076 area can lead to the resumption of the bear trend. 

GBP/USD 15-minute chart

Spot rate:               1.3117
Relative change:    0.11%     
High:                      1.3139
Low:                       1.3097

Trend:                    Bearish / Bullish correction

Resistance 1:        1.3155 former breakout point
Resistance 2:        1.3200 figure
Resistance 3:        1.3230 supply level
Resistance 4:        1.3250 June 4 high 

Support 1:             1.3100-1.3076 area, figure and weekly low
Support 2:             1.3049 June 28 low
Support 3:             1.3010 July 18 low
Support 4:             1.2957 current 2018 low
Support 5:             1.2908 September 5, 2017 low