GBP/USD rose above MA (200) H1

Today, there is a steady upward movement on the hourly chart of GBP/USD after the breakdown of the 1.2915 level and consolidation above it. The price overcame the resistance at 1.2985 and peaked near 1.3145, after which a moderate correction began. The MA (200) H1 moving average (1.2915) has changed direction from downward to horizontal, and the price is confidently trading above it, which confirms the trend change to bullish. The MACD indicator shows steady positive dynamics - the histogram is growing in the green zone, confirming the presence of an upward momentum. The nearest support for the correction is the level of 1.2985, in case of a breakdown, a rollback to 1.2915 is possible. The nearest resistance is located at 1.3145, its breakdown will open the way to the next target in the area of 1.3210. The overall sentiment for the pair is bullish as long as the price remains above the 1.2915 level.

Resistance levels are: 1.3145, 1.3210, 1.3305

Support levels are: 1.2985, 1.2915, 1.2810

The main scenario for the pair's advance suggests a breakout of the session high of 1.3145 and there may be an increase to 1.3210 (April 3 high)

An alternative scenario implies a breakout of the European session low of 1.2985, a decline to MA (200) H1 (1.2915) and then, perhaps, to 1.2810 (April 10 low)