GBP/USD remains above MA (200) H1

Today, there has been a steady upward movement on the hourly chart of GBP/USD since the beginning of April. After declining to the level of 1.2710, the price turned around and showed steady growth, breaking through several resistance levels. At the moment, the pair is trading near the local maximum at 1.3255, which is the nearest resistance. The support levels are 1.3125 and 1.3030, which were broken earlier. The MACD indicator shows a positive histogram, which confirms the predominance of the upward momentum. At the same time, the signal line is also above the zero mark, which indicates the continuation of the bullish trend. The moving average remains Ma (200) H1 (1.2965) below current prices, confirming the upward structure.

The overall picture indicates a continuation of bullish dynamics, while consolidation above the level of 1.3255 will pave the way to the next target in the area of 1.3305 and above. However, if there is a downward pullback, the 1.3125–1.3030 zone will act as an important support level.

Resistance levels are: 1.3255, 1.3305, 1.3435

Support levels are: 1.3125, 1.3030, 1.2965

The main scenario for the pair's advance suggests a breakout of the session high of 1.3255 and there may be an increase to 1.3305 (Oct 2 high)

An alternative scenario implies a decline to 1.3125 (the low of the American session on April 14) and there may be a decline to 1.3030 (the low of the American session on April 11).