GBP/USD remains below MA (200) H1

On the hourly chart, GBP/USD maintains a downward trend, trading below the MA (200) H1 moving average, which runs around 1.3300–1.3325, acting as a dynamic resistance. After the breakdown of the key support level of 1.3220, the pair dropped sharply to a low of 1.3140, but then bounced up and consolidated in the range of 1.3200–1.3220. Growth attempts so far look limited, and without a confident breakdown above 1.3220 and consolidation above 1.3285, the upward correction will be limited. The MACD indicator shows a positive histogram, indicating the presence of a short-term correction phase after oversold conditions, but the "bearish" momentum remains dominant. Overall, the pair remains under pressure, and any recovery attempts should be considered in the context of a correction as long as the price remains below 1.3300 and the descending moving average.

Resistance levels are: 1.3220, 1.3285-1.3300, 1.3325

Support levels are: 1.3140, 1.2985, 1.2865

The main scenario for the pair's advance suggests a breakout of support at 1.3140 (May 12 low) and a possible decline to 1.2985 (low of the European session on April 11).

An alternative scenario implies a breakout of the session high of 1.3220 and there may be an increase to 1.3285-1.3300 (May 12 high, MA (200) H1)