GBP/USD Technical Analysis: Testing 100-hour SMA support turned resistance

 After an initial dip to sub-1.3100 level, the pair regained positive traction and has now climbed back closer to overnight swing high, above mid-1.3100s.

   •  The pair is currently testing an immediate resistance marked by 100-hour SMA hurdle, which had been acting as an important support over the past two weeks. 

   •  With technical indicators on the 1-hourly chart gradually picking up positive momentum, a convincing breakthrough should pave the way for additional gains.

   •  Above the mentioned barrier, the pair seems all set to aim towards reclaiming the 1.3200 handle, albeit weakness back below the 1.3100 handle might negate the positive outlook. 
 

GBP/USD 1-hourly chart

Spot Rate: 1.3156
Daily Low: 1.3095
Trend: Bullish above 100-hour SMA

Resistance
R1: 1.3171 (R1 daily pivot-point)
R2: 1.3200 (round figure mark)
R3: 1.3225 (horizontal zone)

Support
S1: 1.3095 (current day swing low)
S2: 1.3066 (S1 daily pivot-point)
S3: 1.3039 (100-period SMA H1)

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