GBP/USD Technical Analysis: Cable decimated by bears melting towards the 2018 low

• GBP/USD is trading in a bear trend below the 200-period simple moving average on the 4-hour chart. 
• GBP/USD bears gave no respite to Cable which is dropping to 1.2700 figure now only a handful of pips away from the 2018 low at 1.2660. GBP/USD might consolidate some losses but remain fragile for another potential for to 1.2660. 
• Near-term supports can be seen near 1.2700 figure while resistances can be located near 1.2750 and 1.2800 figure.

GBP/USD 4-hour chart

Main trend:                      Bearish 

Resistance 1:                  1.2750 figure
Resistance 2:                  1.2800 figure
Resistance 3:                  1.2854 October 29
Resistance 4:                  1.2900 figure
Resistance 5:                  1.2921 October 4 low

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

Additional key levels at a glance: