GBP/USD remains above MA (200) H1

Today, the hourly chart of GBP/USD shows a steady upward movement that began on April 8, after which the price confidently overcame resistance levels and reached a maximum around 1.3295. In recent sessions, the asset has been consolidating above the 1.3200 level, demonstrating local stability after strong growth. The MA (200) H1 moving average (1.3015) is moving up, confirming the dominance of the bullish trend in the medium term. The distance between the current price and the moving average indicates that the pair may be overbought, which makes a short-term correction or continuation of the sideways phase likely. The MACD shows a decrease in the histogram to zero after a long period of positive values, which indicates a weakening of the upward momentum and a possible transition to a consolidation phase. However, a weak positive value at the end of the chart may indicate an attempt to restore consumer activity.

Resistance levels are: 1.3295, 1.3360, 1.3435

Support levels are: 1.3205, 1.3115, 1.3030

The main scenario for the pair's advance suggests a breakout of the resistance at 1.3295 (April 16 high) and there may be an increase to 1.3360 (Sep 23 high)

An alternative scenario implies a breakout of the session low of 1.3205 (April 3 and 14 high) and a decline of 1.3115 (April 4 high).