GBP/USD remains below MA (200) H1

The hourly chart of the GBP/USD pair shows an upward correction after the decline that ended on June 18. The price is gradually recovering and is currently trading near the 1.3490 level. The nearest resistance is located at 1.3505. Its breakdown may open the way to the next target in the area of 1.3580, where the MA (200) H1 moving average passes, acting as additional resistance. Support is at 1.3460, and if the price returns below this value, selling pressure may increase. The MACD indicator is in a positive zone, which confirms the current upward momentum, but its histogram shows signs of slowing down, which may signal a possible correction or consolidation near current levels. The overall picture points to a recovery, but for it to continue, a steady consolidation above 1.3505 is necessary.

Resistance levels are: 1.3505, 1.3580, 1.3620-35

Support levels are: 1.3460, 1.3380, 1.3335

The main scenario for the pair's advance suggests a breakout of the session low of 1.3460 and a possible decline to 1.3380 (June 19 low)

An alternative scenario implies a breakout of the session high of 1.3505 and there may be an increase to 1.3580 (June 17 high).