GBP/USD is testing the strength of MA (200) H1

The hourly chart of GBP/USD shows a consolidation phase after the previous rise, where the price is trapped between support at 1.3260 and resistance at 1.3345. A strong upward momentum since the beginning of April has led to a peak at 1.3445, followed by a correction. The MA (200) H1 moving average is currently positioned above the price and acts as a dynamic resistance. Attempts to grow to this level have not yet been successful, and every upward pullback is met by sellers. The MACD indicator shows weak positive dynamics, but remains near the zero line, which indicates the absence of a confident momentum in any direction. In the near term, the pair may continue to move in the range of 1.3260–1.3345 until one of the boundaries breaks down.

Resistance levels are: 1.3345, 1.3445, 1.3530

Support levels are: 1.3260, 1.3200, 1.3120

The main scenario for the pair's advance assumes a breakout of 1.3345 (May 1 high) and there may be an increase to 1.3445 (April 28-29 high).

An alternative scenario implies a breakout of 1.3260 (May 1 low) and there may be a decline to 1.3200 (April 3 high, April 17 low).