Hello,
It looks like granuloma annulare but the possibility of pityriasis rosea and nummular dermatitis also has to be explored. It presents as a ring of small bumps which may burn or turn itchy. Mostly no treatment is required but in severe cases topical and oral steroids may be needed. Please consult a dermatologist in that case.
Hope it helps. Take care and please do keep me posted on how you are doing or if you have any additional queries. Kind regards.
Hi Soccerguy,
I am becoming a broken record, but it took me a long time to have a similar condition diagnosed as granuloma annulare. Your bump looks larger than the multiple ones I suffer, but GA is characterized by reddish raised rings of tiny bumps, with a depressed whiter area in the middle. Some of them are VERY itchy. :(