GBP/USD Technical Analysis: Bulls find their way to 1.3155 as UK PM May is taking control of Brexit negotiations

• Given the bullish pressure, GBP/USD managed to test the 1.3155 resistance and Monday’s high.
• GBP/USD bulls next objective is to generate a convincing breakout above 1.3155 to target the 1.3200 figure and 1.3250, June 4 high. The bullish bias remains unchanged as GBP/USD is trading above 1.3100 and the 200-period simple moving average.
• GBP/USD breakout to new daily highs coincides with Theresa May announcing she would take control of the Brexit negotiations.

GBP/USD 15-minute chart 

Spot rate:               1.3148
Relative change:    0.36%     
High:                      1.3160
Low:                       1.3071

Trend:                    Bearish / Risk of bullish reversal

Resistance 1:        1.3155 former breakout point
Resistance 2:        1.3200 figure
Resistance 3:        1.3250 June 4 high 

 
Support 1:             1.3100 figure 
Support 2:             1.3049 June 28 low
Support 3:             1.3010 July 18 low
Support 4:             1.2957 current 2018 low
Support 5:             1.2908 September 5, 2017 low