GBP/USD Technical Analysis: Cable supported at 2018 low after recent drop, currently trading above 1.3250

• GBP/USD had a climactic sell-off on Thursday. Overnight Cable sharply reversed up near the 2018 low at 1.3205.  
• Bulls are now trying to reintegrate the channel. The lower trendline might act as a resistance level in the short-term but bulls objective is to target the upper trendline in the coming sessions.

GBP/USD 15-minute chart

Spot rate:               1.3270
Relative change:      0.05%      
High:                      1.3277
Low:                       1.3211

Trend:                     Neutral

Resistance 1:        1.3300 key support
Resistance 2:        1.3344, daily 10-period SMA
Resistance 3:        1.3400 figure
Resistance 4:        1.3590 daily 200-period simple moving average

Support 1:             1.3254 June 1 swing low
Support 2:             1.3205 current 2018 low
Support 3:             1.3100 figure