GBP/USD Technical Analysis: Correcting lower but some underlying strength still seen

• The pair dropped to 1.3080 and bounced quickly to the previous intraday trading range between 1.3095 and 1.3105. 
• Consolidation above 1.3110 over the next hours could lead to a test of 1.3140 and also to Monday’s high. 
• Modest upside bias to remain in place as long as price holds on top of 1.3065/1.3080; below bearish pressure likely to intensify. 

GBP/USD 15-minute chart 

Spot rate:               1.3097
High:                     1.3157
Low:                      1.3081

Trend:                    Neutral

Resistance 1:        1.3140
Resistance 2:        1.3185 
Resistance 3:        1.3225

Support 1:             1.3045
Support 2:             1.3005
Support 3:             1.2955 (Jul 19 low)