GBP/USD Technical Analysis: Cable challenging weekly highs ahead of Trump-Juncker meeting

• GBP/USD is currently challenging the weekly high near the 1.3175 level. GBP/USD is trading above all its main simple moving averages (50, 100 and 200 SMA) suggesting a bullish bias ahead of the Trump-Juncker meeting scheduled at 17:30 GMT. 
• Bulls objective is to clearly break above the current daily/weekly high at 1.3175 in order to reach the 1.3200 figure and 1.3230 supply level.
• On the other hand, bears need to overcome the main SMA and the 1.3100 figure in order to create a credible bear reversal. 

GBP/USD 15-minute chart 

Spot rate:               1.3175
Relative change:    0.25%     
High:                      1.3178
Low:                       1.3137

Trend:                    Bearish / Risk of bullish reversal

Resistance 1:        1.3200 figure
Resistance 2         1.3230 supply level
Resistance 3:        1.3250 June 4 high 

Support 1:             1.3155 former breakout point
Support 2:             1.3100 figure 
Support 3:             1.3049 June 28 low
Support 4:             1.3010 July 18 low
Support 5:             1.2957 current 2018 low
Support 6:             1.2908 September 5, 2017 low