GBP/USD Technical Analysis: Cable starting the week falling to a new 2018 low

• GBP/USD is starting the week with an 80-pip sell-off to 1.2920 breaking below the former 2018 low at 1.2957.  
• GBP/USD bulls consider that the market fell too far too fast and are currently trying to create a pullback up. Resistances to the upside are likely located near 1.2957 the former 2018 low and 1.2987, August 3 low.  
• Bears next objective is to breakout below 1.2920 to extend the bear trend towards 1.2900 figure and 1.2852 August 31, 2017.

GBP/USD 15-minute chart

Spot rate:               1.2933
Relative change:    -0.52%      
High:                      1.3014
Low:                       1.2920

Trend:                    Bearish / Pullback up

Resistance 1:        1.2957 July 17 low
Resistance 2:        1.2987 August 3 low
Resistance 3:        1.3000-1.3010 area, figure and July 18 low
Resistance 4:        1.3049 June 28 low
Resistance 5:        1.3100-1.3076 area, figure and July 24 low
Resistance 6:        1.3155 former breakout point
Resistance 7:        1.3200 figure
Resistance 8:        1.3230 supply level
Resistance 9:        1.3250 June 4 high  

Support 1:             1.2920 -1.2900 area, current 2018 low and figure
Support 2:             1.2852 August 31, 2017
Support 3:             1.2800 figure