GBP/USD shows a steady uptrend

On the hourly chart, the GBP/USD pair has been showing a steady uptrend on the hourly chart since June 21, when it broke above the 1.3455 level and consolidated above the MA (200) H1 moving average, indicating a change in the medium-term trend in favor of buyers. After the breakdown of the 1.3590 level, the price confidently overcame the resistance of 1.3650 and reached a local maximum near 1.3770, after which it entered a consolidation phase in the range of 1.3720–70. The current price is above key support levels, and the market structure remains upward. The MACD indicator shows a weakening of the bullish momentum, the histogram is decreasing, but still remains in the positive zone, which indicates a slowdown in the upward movement and a possible correction. Support is located around 1.3650, and a steady consolidation above 1.3770 may open the way to new highs.

Resistance levels are: 1.3770, 1.3835, 1.3910

Support levels are: 1.3650, 1.3590, 1.3510

The main scenario for the pair's advance suggests a breakout of the resistance at 1.3770 (June 26 high) and there may be an increase to 1.3835 (Oct 26’ 2018 high)

An alternative scenario implies a decrease to 1.3650 (June 24 high) and there may be a decrease to 1.3590 (June 25 low).