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- GBP/USD remains above MA (200) H1
GBP/USD remains above MA (200) H1
On the hourly chart, the GBP/USD pair is developing an upward momentum after a confident breakdown of the key resistance at 1.3290, which previously acted as a strong resistance and coincided with the MA (200) H1 moving average area. After the breakdown, the price consolidated above this average, indicating a change in the short-term upward trend. The MACD indicator remains in the positive zone, while the histogram shows a slowdown in growth, which may indicate a corrective pause or a possible sideways movement in the short term. However, while there is no signal for a reversal, a moderately bullish mood prevails. The overall technical picture indicates the predominance of an upward trend with the potential for continued growth, provided the price remains above the 1.3290 level and the 200-period moving average.
Resistance levels are: 1.3405, 1.3445, 1.3500
Support levels are: 1.3345, 1.3290, 1.3250
The main scenario for the pair's advance assumes a breakout of the resistance at 1.3405 (May 6 and 19 high) and there may be an increase to 1.3445 (April 28-29 high).
An alternative scenario implies a breakout of the session low of 1.3345 and there may be a decline to 1.3290 (May 19 low, MA (200) H1)
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