GBP/USD Technical Analysis: Pound bulls keep the market above 1.3300

• GBP bulls brought GBP/USD near the 100-period simple moving average (4-hour) at 1.3392 in early European trade but bulls couldn’t break above the level.
• In the last five sessions, GBP/USD has gathered some bullish momentum with GBP/USD trading above the 50-period simple moving average (4-hour).
• The 1.3400 handle should be the line-in-the-sand if bulls want to create a successful reversal initiated on May 29.
• The 1.3300 handle should offer some support if bulls want to keep the momentum going. A break below the level can open the gates to further downside moves.

GBP/USD 15-minutes chart

Spot rate:                1.3340
Relative change:    0.02%     
High:                        1.3393
Low:                         1.3302

Trend:                      Neutral to bullish above 1.3300

Support 1:              1.3300 handle
Support 2:              1.3253 last Friday’s low
Support 3:              1.3205 current 2018 low

Resistance 1:        1.3400 handle and near May 24 high
Resistance 2:        1.3450 May 22 high 
Resistance 3:        1.3500 figure