GBP/USD maintains a downward movement

On the hourly chart, the GBP/USD pair maintains a downward movement, remaining under pressure below the MA (200) H1 moving average, which indicates the dominance of sellers. After an unsuccessful attempt to overcome the resistance around 1.3590, the price turned down and consolidated below this level, testing the support of 1.3525. At the same time, the MACD indicator remains in the negative zone, and the histogram shows stable bearish dynamics, which confirms the presence of a downward momentum. If the pressure persists, a breakdown of 1.3525 will open the way to the next target in the area of 1.3455, and then a test of level 1 is possible.3370. To change the short-term mood, the pair needs to gain a foothold above 1.3590 and return above MA (200) H1, which may trigger an increase to the levels of 1.3620 and 1.3650. However, as long as the structure remains downward, any upward pullbacks are considered corrective.

Resistance levels are: 1.3590, 1.3620, 1.3650

Support levels are: 1.3525, 1.3455, 1.3370

The main scenario for the pair's advance suggests a breakout of the session low of 1.3525 (July 8 low) and a possible decline to 1.3455 (June 10 low)

An alternative scenario implies a breakout of the session high of 1.3620 (July 9 high) and there may be an increase to 1.3645 (July 8 high)