GBP/USD shows signs of weakness

On the hourly chart, the GBP/USD pair is showing signs of weakness after a failed recovery attempt. After a sharp rise that ended near the 1.3750 level, the pair entered a downward phase, falling below the MA (200) H1 moving average, which now serves as resistance around 1.3685. The current price is near the 1.3585 mark, and there is pressure from sellers. Attempts to rise above the 1.3645 level were unsuccessful, which indicates a continuing downward trend.

The MACD indicator strengthens the sell signals: the histogram moved into the negative zone and began to expand downwards, indicating an increase in the bearish momentum. At the same time, the moving averages of the indicator remain below zero, confirming the short-term downward pressure. 

The overall technical picture points to the sellers' advantage in the short term. To change the current trend, the pair needs not only to break through the MA (200), but also to gain a foothold above the 1.3685 level. Until this happens, the risks of further decline remain.

Resistance levels are: 1.3645, 1.3685, 1.3750

Support levels are: 1.3560, 1.3510, 1.3455

The main scenario for the pair's advance suggests a breakout of the support 1.3560 (July 2 low) and a possible decline to 1.3510 (June 20 high)

An alternative scenario implies a breakout of the session high of 1.3645 and there may be an increase to 1.3685 (July 4 high)