GBP/USD shows a steady upward trend

There is a steady uptrend on the hourly chart of GBP/USD, which intensified after a steady breakdown of the 1.3470 level and consolidation above it. The price has reached the resistance area of 1.3595 and has not yet been able to overcome it, showing signs of local overbought. In case of consolidation above 1.3595, the path to new local highs may open, however, the current slowdown and consolidation below this level indicate the likelihood of a corrective pullback. The nearest support is the 1.3470 level, below it is 1.3380-90, where the MA (200) H1 moving average passes, which plays the role of a dynamic support within the medium-term trend. The MACD remains in the positive zone, but the histogram has begun to decline, indicating a weakening of the bullish momentum and a possible correction in the short term. Nevertheless, the overall structure of the movement remains positive, and as long as the price is trading above 1.3470, the priority remains with buyers. A steady hold of the current levels or their retest followed by a rebound may give an impetus for further growth towards 1.3650 and higher.

Resistance levels are:  1.3595, 1.3650, 1.3700

Support levels are: 1.3470, 1.3380-90, 1.3335-45

The main scenario for the pair's advance suggests a breakout of the session high of 1.3595 and there may be an increase to 1.3650.

An alternative scenario implies a breakout of 1.3470 (May 21 high) and there may be a decrease to 1.3380-90 (May 21-22 low, MA (200) H1)