GBP/USD is testing MA (200) H1

Today, the hourly chart of GBP/USD shows an attempt to recover from the fall. The pair is trading around 1.3335, slightly below the nearest resistance level of 1.3355. At a higher level, resistance is marked at 1.3425. Support is located at 1.3275, and then at 1.3200. The pair is testing the MA (200) H1 moving average, which is directed upwards, which indicates the presence of upward pressure in the short term. The MACD indicator shows positive dynamics: the histogram turns into the green zone, and the MACD lines crossed upwards, which also confirms the bullish mood. This indicates an increasing probability of continued growth towards the 1.3355 resistance and, possibly, a test of the 1.3425 level while maintaining momentum. Overall, the technical picture points to a cautious bullish scenario, provided that the price holds above the 1.3275 support and the moving average.

Resistance levels are: 1.3355, 1.3425, 1.3530

Support levels are: 1.3275, 1.3200, 1.3115

The main scenario for the pair's advance suggests a breakout of the session high of 1.3355 and there may be an increase to 1.3425 (April 21-22 and Sep 26 high).

An alternative scenario implies a breakout of the support of 1.3275 (April 25 low) and a decrease of 1.3200 (April 3 high, April 17 low).