GBP/USD rose to a 6-month high

On the hourly chart of the GBP/USD currency pair, there is a sharp upward momentum breaking through several resistance levels. The price rose steadily above the 1.3055 level and reached a 6-month high near 1.3205, where a slight correction occurred. The Ma (200) H1 moving average line (1.2945) previously acted as resistance, but after the breakdown it now remains below the price, confirming the trend change to an upward one. The MACD indicator shows a strong growth in the histogram, which indicates the dominance of bullish momentum. The main support levels are located at 1.3055 and 1.3015, while the nearest resistance remains the maximum of 1.3205. In case of consolidation above the current levels, continued growth is likely, however, a correction to the nearest supports is possible before further upward movement.

Resistance levels are: 1.3205, 1.3305, 1.3435

Support levels are: 1.3055, 1.3015, 1.2970-90

The main scenario for the pair's advance suggests a breakout of the session high of 1.3205 and there may be an increase to 1.3305 (Oct 2 high)

An alternative scenario implies a decrease to the minimum of today's European session at 1.3055 and then, perhaps, to 1.3015 (March 20 high)