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- GBP/USD shows an upward momentum
GBP/USD shows an upward momentum
On the hourly chart, the GBP/USD pair shows an upward momentum, consolidating above the MA (200) H1 moving average, which indicates a change in the short-term trend towards growth. After overcoming the resistance at 1.3450, the price rose sharply, testing the 1.3560 zone, but failed to gain a foothold higher, retreating to 1.3530. The MACD indicator shows a steady expansion of the histogram in the positive zone, which signals an increasing bullish inertia and supports the prospect of continued growth. If the pair manages to overcome the 1.3550 level, the next target may be a maximum around 1.3595. In the event of a pullback, key support levels are at 1.3450 and 1.3415, and holding them will be critical to maintain positive momentum.
Resistance levels are: 1.3560, 1.3595, 1.3700
Support levels are: 1.3450, 1.3415, 1.3390
The main scenario for the pair's advance suggests a breakout of the session high of 1.3560 and there may be an increase to 1.3595 (May 26 high).
An alternative scenario implies a breakout of the session low of 1.3450 (May 30 low) and a possible decline to 1.3415 (May 29 low)
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