GBP/USD Technical Analysis: Cable is back down below 1.3200 figure as bulls take a breather

• GBP/USD is in a bull trend above the 200-period simple moving average. 
• GBP/USD found some support at 1.3170, however failure to recapture 1.3237 (October 16 high) can lead to a sideways to down consolidation in the coming days.
• The momentum remains bullish but if the market is unable to break above 1.3237, it can lead to a rotation down to 1.3140 (October 16 low) while a break above 1.3237 can open the doors to 1.3300 figure.

GBP/USD 4-hour chart

Spot rate:                         1.3190
Relative change:              0.58%     
High:                                1.3231
Low:                                 1.3140

Main trend:                      Bullish

Resistance 1:                  1.3259 October 12 high
Resistance 2:                  1.3237 October 16 high
Resistance 3:                  1.3300 September 20 high
Resistance 4:                  1.3370 July 9 high
Resistance 5:                  1.3400 figure

Support 1:                      1.3200 figure
Support 2:                      1.3140 current October 16 low
Support 3:                      1.3100 figure
Support 4:                      1.3050 August 30 swing high, key level
Support 5:                      1.3028 October 8 low
Support 6:                      1.3000 figure 
Support 7:                      1.2957 July 19 swing low