GBP/USD Technical Analysis: King Dollar gets pounded as GBP/USD runs up to 1.3100 figure

• GBP/USD gained about 80 pips this Friday as the bulls managed to break above the 1.3100 level. 
• Short-term momentum appears to have switched to bullish as GBP/USD is trading well-above all its main simple moving averages. 
• Support is likely located near 1.3049 June 28 low and a bear breakout below the level would be seen as a sign of bullish weakness and a potential resumption of the bear trend. 
• Resistances to the upside are seen near 1.3155 and the 1.3200 figure.

GBP/USD 15-minute chart 

Spot rate:               1.3103
Relative change:    0.66%     
High:                      1.3117
Low:                       1.2995

Trend:                    Bearish / Bullish correction 

Resistance 1:        1.3100 figure 
Resistance 2:        1.3155 former breakout point
Resistance 3:        1.3200 figure

Support 1:             1.3049 June 28 low
Support 2:             1.3010 July 18 low
Support 3:             1.2957 current 2018 low
Support 4:             1.2908 September 5, 2017 low 
Support 5:             1.2774 August 24, 2017 low