GBP/USD Technical Analysis: Consolidating losses below 1.3075

• GBP/USD is down about 70 pips from Asia as GBP/USD dropped after the Bank of England dovish rate hike.
• GBP/USD found support near the 1.3000 level and is now having a pullback to the upside. Late bears will try to short at the 1.3075 level while bulls will try to push the market higher towards 1.3100. A breakout above 1.3100 would be negative for bears. 
• Bears are currently losing stream and the reaction at 1.3076 and 1.3100 will be capital for determining the short-term directionality of the currency pair. Bears need to regain the 1.3000 level in order to drive the market down towards 1.2957, the current 2018 low.

GBP/USD 15-minute chart 

Spot rate:               1.3054
Relative change:    -0.55%     
High:                      1.3129
Low:                       1.3015

Trend:                    Bearish / Bullish pullback

Resistance 1:        1.3100-1.3076 area, figure and July 24 low
Resistance 2:        1.3155 former breakout point
Resistance 3:        1.3200 figure
Resistance 4:        1.3230 supply level
Resistance 5:        1.3250 June 4 high 

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