GBP/USD Technical Analysis: GBP/USD prints new 2018 low

  • GBP/USD is falling fast to new 2018 lows as GBP/USD broke below the 1.2800 psychological level. 
  • The next targets to the downside are likely located near the 1.2700 figure and 1.2589 June 21, 2017 low. 
  • Near-term resistances to the upside are seen near 1.2789 intraday swing high and 1.2838, August 10 high. 

GBP/USD 15-minute chart

GBP/USD daily chart

Spot rate:               1.2760
Relative change:    -0.50%     
High:                      1.2838
Low:                       1.2723

Trend:                    Bearish 

Resistance 1:        1.2789 intraday swing high
Resistance 2:        1.2838, August 10 high
Resistance 3:        1.2900-1.2923 area, figure and August 7 low 
Resistance 4:        1.2957 July 17 low
Resistance 5:        1.2975 August 3 low
Resistance 6:        1.3000-1.3010 area, figure and July 18 low
Resistance 7:        1.3049 June 28 low
Resistance 8:        1.3100-1.3076 area, figure and July 24 low
Resistance 9:        1.3155 former breakout point
Resistance 10:        1.3200 figure
Resistance 11:        1.3230 supply level
Resistance 12:       1.3250 June 4 high 

Support 1:             1.2723, current 2018 low
Support 2:             1.2700 figure
Support 3:             1.2589 June 21, 2017 low

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