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  • GBP/USD dropped to a new 2018 low flirting with the 1.2700 figure. Bears should ideally keep the market below 1.2723 in order to keep the bear momentum intact.
  • GBP/USD bears next targets are located near the 1.2700 figure and 1.2589, June 21, 2017 low.  
  • Resistance is seen near 1.2723, August 10 low (former 2018 low) and 1.2789 intraday swing high.  

GBP/USD 15-minute chart  

GBP/USD daily chart  

Spot rate:               1.2708
Relative change:     -0.48%      
High:                      1.2828
Low:                       1.2705

Trend:                    Bearish  

Resistance 1:        1.2723, August 10 low
Resistance 2:        1.2789 intraday swing high
Resistance 3:        1.2838, August 10 high
Resistance 4:        1.2900-1.2923 area, figure and August 7 low  

Support 1:             1.2700 figure
Support 2:             1.2589 June 21, 2017 low
Support 3:             1.2500 figure