GBP/USD Technical Analysis: Cable pressurized near yearly lows nearing 1.2700 figure

• GBP/USD is trading in a bear trend below the 200-period simple moving average on the 4-hour chart.
• GBP/USD is testing 1.2750 as bears are eager to revisit the 2018 low at 1.2660. The bear trend is intact with the RSI, MACD and Stochastic pointing to lower levels ahead.  
• Near-term supports can be seen near 1.2750 and 1.2700 figure while resistances can be located near 1.2800 figure and 1.2846 August 29 low

GBP/USD 4-hour chart

Main trend:                      Bearish  

Resistance 1:                  1.2800 figure
Resistance 2:                  1.2854 October 29
Resistance 3:                  1.2900 figure
Resistance 4:                  1.2921 October 4 low

Support 1:                      1.2750 figure
Support 2:                      1.2700 figure
Support 3:                      1.2660 August low (2018 low)
Support 4:                      1.2589 June 21, 2017

Additional key levels at a glance: