GBP/USD shows an attempt at an upward reversal after a prolonged decline

On the hourly chart, GBP/USD shows an attempt to turn up after a prolonged decline, which led the quote to support around 1.3415. The hourly chart shows a breakdown of the MA (200) H1 moving average from the bottom up — this is a potential signal for the end of the corrective decline and the beginning of recovery. The current levels indicate the formation of a local bullish impulse: the quote is holding above 1.3455 and is trying to gain a foothold above the level of 1.3470. 

The MACD indicator shows clear signs of divergence and exit from the negative zone: the histogram began to grow upward, confirming the reversal signal. This reinforces the bullish scenario in the short term. However, to confirm a stable upward trend, consolidation above 1.3520 is necessary. Until this happens, the movement remains within the recovery phase after the pullback, without a clear reversal of the global trend.

Resistance levels are:  1.3520, 1.3595, 1.3700

Support levels are: 1.3415, 1.3390, 1.3335

The main scenario for the pair's advance suggests a breakout of the resistance at 1.3520 (May 28 high) and there may be an increase to 1.3595 (May 26 high).

An alternative scenario implies a breakout of the session low of 1.3415 and a possible decline to 1.3390 (May 22 low)