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- GBP/USD shows a steady upward trend
GBP/USD shows a steady upward trend
On the hourly chart, the GBP/USD pair is showing a steady uptrend, breaking the important resistance level of 1.3470 and rising to 1.3505. The growth is accompanied by a steady bullish momentum, which is confirmed by the MACD indicator - the histogram is actively expanding in the positive zone, and the indicator lines are pointing upward, indicating increased buying activity. The price is trading significantly above the MA (200) H1 moving average, which confirms the stability of the upward movement and the presence of support from longer-term traders. The overall technical picture remains positive and favorable for continued growth while maintaining the current dynamics.
Resistance levels are: 1.3600, 1.3700, 1.3800
Support levels are: 1.3470, 1.3390, 1.3335-45
The main scenario for the pair's progress suggests an increase to the psychological level of 1.3600.
An alternative scenario implies a breakout of 1.3470 (May 21 high) and there may be a decline to 1.3390 (May 21-22 low)
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