GBP/USD rose above MA (200) H1

On the hourly chart of GBP/USD, there is a steady upward movement after the previous decline, which ended in the support area of 1.3140. The price broke through the key resistance levels of 1.3210 and 1.3285, as well as the MA (200) H1 moving average, which indicates a change in the short-term trend to an upward one. The pair is currently consolidating below the 1.3360 level, which is the nearest resistance. Consolidation above it will open the way to the next target in the area of 1.3405. The MACD indicator shows growth: the histogram is in the positive zone and continues to increase, confirming the strength of the current upward momentum. The MACD lines are also above the zero mark and diverge upward, which reinforces the buy signal. The overall picture indicates a continuation of the upward movement. In case of correction, the support levels are 1.3285 and 1.3210. As long as the price remains above the MA (200) H1 moving average, the priority remains for purchases.

Resistance levels are: 1.3360, 1.3405, 1.3445

Support levels are: 1.3285, 1.3210, 1.3140

The main scenario for the pair's advance suggests a breakout of the session high of 1.3360 and there may be an increase to 1.3405 (May 6 high).

An alternative scenario implies a decline to MA (200) H1 (1.3285) and then, perhaps, to 1.3210 (May 9 low)