GBP/USD holds above MA (200) H1

On the hourly chart, the GBP/USD pair maintains an upward trend, remaining above the MA (200) H1 moving average, which confirms a steady bullish momentum. After correcting from the local maximum around 1.3620, the price stabilized above the support level of 1.3510 and is again showing signs of recovery. The MACD indicator shows positive dynamics — the histogram expands above the zero line, which indicates an increase in consumer activity. As long as the price remains above the moving average and the 1.3510 level is not broken down, the priority remains with the bulls. The coming sessions may be decisive: a successful consolidation above 1.3585 will strengthen the upward structure, while an unsuccessful attempt at growth may provoke a new wave of profit-taking.

Resistance levels are: 1.3585, 1.3620, 1.3650

Support levels are: 1.3490-1.3510, 1.3450, 1.3415

The main scenario for the pair's advance suggests a breakout of the session high of 1.3585 (June 6 high) and there may be an increase to 1.3620 (June 5 high).

An alternative scenario implies a breakout of the 1.3490-1.3510 area (June 3-4 and 6 lows) and there may be a decline to 1.3450 (May 30 low)