• GBP/USD inched higher towards 1.3011 levels on Wednesday as the pair found short buying interest around 1.2932 levels.
   
• The pair has to break resistance level at 1.3199 levels in order find any bullish momentum, unless until the trend continues to be strongly bearish for this pair.
   
• Currently, the currency pair is trading at 1.3012 levels, it is set to decline towards 1.2955 and later 1.2900 levels in the short term.
   
• To the upside, the immediate resistance can be seen at 1.3048, a break above this level would expose to cable to next resistance level at 1.3125.
   
• To the downside major support can be seen at 1.2955, a break below will open the door towards next level at 1.2900.
  
  Resistance Levels
  
  R1: 1.3048 (38.2% Retracement Level)
  
  R2: 1.3125 (50% Retracement Level)
  
  R3: 1.3199 (61.8% Retracement Levels)
  
  Support Levels
  
  S1: 1.2955 (23.6% Retracement Level)
  
  S2: 1.2900 (Psychological levels)
  
  S3: 1.2862 (Aug 15th lows)