GBP/USD Technical Analysis: Oops, EU’s Barnier did it again! GBP/USD surging to 1.3050 key level

• GBP/USD leaped more than 100 pips as the EU's chief negotiator Michel Barnier said that a Brexit deal is realistic in 6-8 weeks. Last week, GBP/USD surged on similar comments.
• GBP/USD is currently in bull breakout mode and it is testing the 1.3050 key level. If bulls manage to sustain a breakout above the level, it might put the main bear trend in peril as it would create a higher high on the daily chart. 
• Nothing indicates that the bullish momentum should abate as the market is trading well above its 50, 100 and 200-period simple moving averages while the RSI, MACD and Stochastics indicators are in full bullish mode. However, a bear breakout below 1.2800 would invalidate the bullish bias. 

GBP/USD 4-hour chart

Spot rate:               1.3036
Relative change:     0.96%     
High:                      1.3052
Low:                       1.2897

Main trend:                 Bearish 
Short-term trend:        Bullish above 1.2800

Resistance 1:        1.3050 August 30 swing high, key level
Resistance 2:        1.3082-1.3100 supply/demand level and figure
Resistance 3:        1.3200 figure

Support 1:        1.3000 figure
Support 2:        1.2957 July 19 swing low
Support 3:        1.2937 August 22 swing high
Support 4:        1.2900 figure
Support 5:        1.2868 August 22 low 
Support 6:        1.2845, August 29 low
Support 7:        1.2800 August 24 swing low

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