GBP/USD Technical Analysis: Tight bear channel find some support above 1.2800 figure

• GBP/USD is down for the fourth day in a row as sellers are keeping the main bear trend intact. 
• GBP/USD has found some support just above the 1.2800 support and a break below the level is needed to confirm the continuation of the bear leg. 
• Meanwhile, repeated failure to break below 1.2800 can lead to a pullback up towards 1.2900 figure as bulls will try to break above the tight bear channel (dotted lines)

GBP/USD 4-hour chart

Spot rate:               1.2845
Relative change:     -0.20%     
High:                      1.2877
Low:                       1.2814

Main trend:             Bearish 

Resistance 1:        1.2868 August 22 low 
Resistance 2:        1.2868 August 22 low 
Resistance 3:        1.2900 figure
Resistance 4:        1.2937 August 22 swing high
Resistance 5:        1.2957 July 19 swing low
Resistance 6:        1.3000 figure

Support 1:             1.2845, August 29 low
Support 2:             1.2800 swing low
Support 3:             1.2700-1.2723 zone, figure and August 10 low

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