GBP/USD Technical Analysis: GBP/USD collapses to new 2018 low near 1.2700 figure

• 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