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- GBP/USD shows steady growth
GBP/USD shows steady growth
On the hourly chart, the GBP/USD pair is showing steady growth. The price came out significantly above the MA (200) H1 moving average, confirming the change of the short-term trend to an upward one. Buying activity has increased, as can be seen from the sharp upward momentum towards the 1.3405 area, the local maximum, where the pair temporarily encountered resistance. The MACD indicator continues to grow in the positive zone, which indicates the continuation of the bullish momentum.
In the case of a repeat test of 1.3405, it is possible to continue growth to new local highs. However, given the overbought conditions and the sharpness of the last movement, a pullback to support at 1.3360 or even to 1.3290 is not excluded, which may become an area for repeated purchases. The overall technical picture remains positive, but the coming hours may bring consolidation or a moderate correction after a strong surge.
Resistance levels are: 1.3405, 1.3445, 1.3500
Support levels are: 1.3290, 1.3250, 1.3210
The main scenario for the pair's advance suggests a breakout of the session high of 1.3405 (May 6 high) and there may be an increase to 1.3445 (April 28-29 high).
An alternative scenario implies a decline to the session low of 1.3290
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