GBP/USD maintains a downward movement

On the hourly chart, the GBP/USD pair continues to be under pressure, developing a downward trend. After forming a peak around 1.3790, the price has been showing a consistent decline and is currently trading around 1.3490. The pair has firmly consolidated below the MA (200) H1 moving average, which has turned down and indicates the predominance of a bearish trend. Buyers' attempts to stabilize the exchange rate are limited by resistance in the 1.3525 zone, while the nearest support is located at 1.3450. In case of a breakdown below the indicated level, it may open the way to the next target in the area of 1.3370. The MACD indicator remains in the negative zone, showing a steady "bearish" momentum, although the histogram has begun to shrink slightly, which may indicate a temporary slowdown in the decline. However, so far there are no signs of a reversal. The overall technical picture remains negative, and any short–term upward pullbacks can be seen as a selling opportunity until the price returns above 1.3590-1.3620.

Resistance levels are: 1.3525, 1.3580, 1.3620

Support levels are: 1.3450, 1.3370, 1.3335

The main scenario for the pair's advance suggests a breakout of the session low of 1.3450 and a possible decline to 1.3370 (June 23 low)

An alternative scenario implies a breakout of the resistance of 1.3525 (July 8 low) and there may be an increase to 1.3580 (July 11 high)