GBP/USD holds above MA (200) H1

On the hourly chart, the GBP/USD pair is holding above the MA (200) H1 moving average, which maintains a moderately upward trend. The 1.3490 level acts as a short-term support, from which the pair has already bounced several times, confirming its importance. Current fluctuations occur in the range between the support of 1.3490 and the resistance of 1.3560, while the price is near the midline of the channel, which indicates consolidation. The MACD indicator is in the positive zone, but without a pronounced impulse — the histogram remains near zero, which corresponds to the current phase of the sideways movement. However, the signal line is slightly pointing up, which may indicate hidden support from buyers. The overall picture indicates a neutral-positive mood with growth potential, provided the breakdown of the nearest resistance.

Resistance levels are: 1.3560, 1.3595, 1.3700

Support levels are: 1.3490, 1.3450, 1.3415

The main scenario for the pair's advance suggests a breakout of the resistance at 1.3560 (June 2-3 high) and there may be an increase to 1.3595 (May 26 high).

An alternative scenario implies a breakout of the support 1.3490 (June 3 low) and there may be a decline to 1.3450 (May 30 low)