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- GBP/USD holds above MA (200) H1
GBP/USD holds above MA (200) H1
On the hourly chart, the GBP/USD pair is showing a moderate decline after failing to gain a foothold above the resistance level of 1.3585. The hourly chart shows a medium-term uptrend, which is confirmed by the price finding above the MA (200) H1 moving average, which is around 1.3530. The MACD indicator indicates increasing bearish pressure: the histogram is actively decreasing and has crossed the zero line downwards, which signals a possible continuation of the correction in the coming hours. Further dynamics will depend on the bulls' ability to hold the 1.3530 level. Upon a rebound from this zone, a return to 1.3585 is possible, while its breakdown will open the way to 1.3490 and below. The overall picture remains moderately positive, but short-term signals speak in favor of the development of a corrective movement.
Resistance levels are: 1.3585, 1.3620, 1.3650
Support levels are: 1.3530, 1.3490, 1.3450
The main scenario for the pair's advance suggests a breakout of the session high of 1.3585 and there may be an increase to 1.3620 (June 5 high).
An alternative scenario implies a breakout of the session low of 1.3530 and there may be a decline to 1.3490 (June 3 low)
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